https://www.taxtmi.com/caselaws?id=383791 The ITAT Mumbai upheld the Commissioner (Appeals)' decision in favor of the assessee, directing the Assessing Officer to compute the disallowance under rule 8D(2)(iii) by considering only investments generating exempt income. Citing legal precedents, the tribunal clarified that only such investments should be factored into the calculation, dismissing the Revenue's appeal. The judgment emphasized adherence to established principles in determining disallowance under section 14A r/w rule 8D, resulting in the dismissal of the Revenue's appeal. en-us Fri, 26 Jul 2019 00:00:00 +0530 Wed, 31 Jul 2019 04:34:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383791 The ITAT Mumbai upheld the Commissioner (Appeals)' decision in favor of the assessee, directing the Assessing Officer to compute the disallowance under rule 8D(2)(iii) by considering only investments generating exempt income. Citing legal precedents, the tribunal clarified that only such investments should be factored into the calculation, dismissing the Revenue's appeal. The judgment emphasized adherence to established principles in determining disallowance under section 14A r/w rule 8D, resulting in the dismissal of the Revenue's appeal. Case-Laws Income Tax Fri, 26 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383791