https://www.taxtmi.com/caselaws?id=286876 The Tribunal partly allowed the appeal of the assessee, directing the Assessing Officer to consider only investments yielding dividend income for disallowance under Rule 8D(2)(iii). The disallowance was to be limited to the voluntary disallowance amount. The Tribunal held that actual expenses for earning exempt income should be considered for disallowance under section 14A while computing book profits, dismissing arguments against the use of Rule 8D. The appeal was partly allowed for statistical purposes, with guidelines provided for disallowance computations and expense considerations. en-us Wed, 13 Mar 2019 00:00:00 +0530 Thu, 19 Mar 2020 10:07:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286876 The Tribunal partly allowed the appeal of the assessee, directing the Assessing Officer to consider only investments yielding dividend income for disallowance under Rule 8D(2)(iii). The disallowance was to be limited to the voluntary disallowance amount. The Tribunal held that actual expenses for earning exempt income should be considered for disallowance under section 14A while computing book profits, dismissing arguments against the use of Rule 8D. The appeal was partly allowed for statistical purposes, with guidelines provided for disallowance computations and expense considerations. Case-Laws Income Tax Wed, 13 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286876