https://www.taxtmi.com/caselaws?id=278886 Rule 8D was held applicable only from assessment year 2008-09, so for assessment year 2007-08 disallowance under section 14A had to be made on a reasonable estimate of expenditure relatable to exempt dividend income; the disallowance was accordingly restricted to 2% of gross dividend income. Deduction under section 36(1)(viia) depended on the existence of a qualifying provision for bad and doubtful debts, but the factual foundation on whether such a provision was made in the relevant year was incomplete, so the matter was remanded for fresh adjudication. en-us Fri, 30 May 2014 00:00:00 +0530 Sun, 24 Feb 2019 14:02:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278886 Rule 8D was held applicable only from assessment year 2008-09, so for assessment year 2007-08 disallowance under section 14A had to be made on a reasonable estimate of expenditure relatable to exempt dividend income; the disallowance was accordingly restricted to 2% of gross dividend income. Deduction under section 36(1)(viia) depended on the existence of a qualifying provision for bad and doubtful debts, but the factual foundation on whether such a provision was made in the relevant year was incomplete, so the matter was remanded for fresh adjudication. Case-Laws Income Tax Fri, 30 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278886