https://www.taxtmi.com/caselaws?id=281583 The Tribunal partially allowed the assessee's ground regarding the disallowance under section 14A r.w. Rule 8D for A.Y. 2007-08, holding that Rule 8D does not apply for that year and directing a reasonable disallowance at 2% of the dividend income. However, the Tribunal confirmed the disallowance of depreciation claimed on the actual cost of assets under Sec. 43(1) of the I.T. Act, following a Co-ordinate Bench decision upholding the Assessing Officer's determination on the cost of acquisition of assets. The deduction of disallowance of employees' separation cost under section 37(1) was dismissed as it became academic due to relief granted under a different section. en-us Fri, 29 Jul 2016 00:00:00 +0530 Wed, 26 Jun 2019 06:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281583 The Tribunal partially allowed the assessee's ground regarding the disallowance under section 14A r.w. Rule 8D for A.Y. 2007-08, holding that Rule 8D does not apply for that year and directing a reasonable disallowance at 2% of the dividend income. However, the Tribunal confirmed the disallowance of depreciation claimed on the actual cost of assets under Sec. 43(1) of the I.T. Act, following a Co-ordinate Bench decision upholding the Assessing Officer's determination on the cost of acquisition of assets. The deduction of disallowance of employees' separation cost under section 37(1) was dismissed as it became academic due to relief granted under a different section. Case-Laws Income Tax Fri, 29 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281583