https://www.taxtmi.com/caselaws?id=381358 The Tribunal allowed the appeal of the assessee for statistical purposes on both issues. Regarding the disallowance under section 14A r.w.r. 8D(2) of the Income Tax Rules, the Tribunal held that no disallowance was required as the assessee had deployed own funds exceeding the investment for exempt income. The Tribunal directed a 0.5% computation on the investment for disallowance under Rule 8D(2)(iii). Concerning the calculation of the annual letable value of the inherited house property, the Tribunal set aside the Ld. CIT(A)'s decision and instructed the AO to verify the habitability of the house before determining a reasonable annual letting value. en-us Fri, 07 Jun 2019 00:00:00 +0530 Mon, 10 Jun 2019 06:12:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381358 The Tribunal allowed the appeal of the assessee for statistical purposes on both issues. Regarding the disallowance under section 14A r.w.r. 8D(2) of the Income Tax Rules, the Tribunal held that no disallowance was required as the assessee had deployed own funds exceeding the investment for exempt income. The Tribunal directed a 0.5% computation on the investment for disallowance under Rule 8D(2)(iii). Concerning the calculation of the annual letable value of the inherited house property, the Tribunal set aside the Ld. CIT(A)'s decision and instructed the AO to verify the habitability of the house before determining a reasonable annual letting value. Case-Laws Income Tax Fri, 07 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381358