https://www.taxtmi.com/caselaws?id=275966 The Tribunal allowed both the Revenue and assessee's appeals for statistical purposes. The disallowance under section 14A should consider books of accounts and reasonableness without applying Rule-8D of IT Rules. The AO was directed to restrict disallowance to 2% of total exempt income. The issue of deletion of compensation from customers was remanded to the AO with similar directions from a previous case. The Revenue's appeal on this ground was allowed for statistical purposes. en-us Wed, 11 Dec 2013 00:00:00 +0530 Wed, 24 Oct 2018 10:20:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275966 The Tribunal allowed both the Revenue and assessee's appeals for statistical purposes. The disallowance under section 14A should consider books of accounts and reasonableness without applying Rule-8D of IT Rules. The AO was directed to restrict disallowance to 2% of total exempt income. The issue of deletion of compensation from customers was remanded to the AO with similar directions from a previous case. The Revenue's appeal on this ground was allowed for statistical purposes. Case-Laws Income Tax Wed, 11 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275966