https://www.taxtmi.com/caselaws?id=286658 The Tribunal upheld the order of the Ld. CIT(A) and dismissed the Revenue's appeal regarding disallowance under section 14A rule 8D of the Income Tax Act. The Tribunal agreed with the assessee that no disallowance was warranted as the investments were strategic in group companies for holding controlling stakes, not for earning exempt income. The decision was based on precedents showing that strategic investments without the purpose of earning exempt income did not require disallowance under section 14A. en-us Fri, 18 Mar 2016 00:00:00 +0530 Mon, 09 Mar 2020 07:41:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286658 The Tribunal upheld the order of the Ld. CIT(A) and dismissed the Revenue's appeal regarding disallowance under section 14A rule 8D of the Income Tax Act. The Tribunal agreed with the assessee that no disallowance was warranted as the investments were strategic in group companies for holding controlling stakes, not for earning exempt income. The decision was based on precedents showing that strategic investments without the purpose of earning exempt income did not require disallowance under section 14A. Case-Laws Income Tax Fri, 18 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286658