https://www.taxtmi.com/caselaws?id=282248 ITAT BANGALORE held Rule 8D is not retrospective; disallowance under sec.14A for the year was set aside to the AO with directions similar to AY 2007-08. Interest disallowance was negated for fresh investments funded from the assessee's own funds; disallowance relating to pre-existing (old) investments was remitted to the AO for fresh adjudication. For AY 2008-09 administrative-expense disallowance under Rule 8D(2)(iii) must be recomputed by the AO considering only mutual fund investments that yielded dividend. Claim for depreciation on goodwill was disallowed under the 5th proviso to sec.32(1); decision against the assessee. en-us Fri, 30 Sep 2016 00:00:00 +0530 Thu, 18 Sep 2025 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282248 ITAT BANGALORE held Rule 8D is not retrospective; disallowance under sec.14A for the year was set aside to the AO with directions similar to AY 2007-08. Interest disallowance was negated for fresh investments funded from the assessee's own funds; disallowance relating to pre-existing (old) investments was remitted to the AO for fresh adjudication. For AY 2008-09 administrative-expense disallowance under Rule 8D(2)(iii) must be recomputed by the AO considering only mutual fund investments that yielded dividend. Claim for depreciation on goodwill was disallowed under the 5th proviso to sec.32(1); decision against the assessee. Case-Laws Income Tax Fri, 30 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282248