https://www.taxtmi.com/caselaws?id=394743 The Tribunal partially ruled in favor of the assessee. The disallowance under Section 14A with Rule 8D(2)(ii) was deleted, and the AO was instructed to recompute the disallowance under Rule 8D(2)(iii) by considering only investments yielding exempt income. Disallowances under Section 40(a)(ia) were sent back to the AO for further review, while the interest payment to HSBC (Mauritius) Ltd was deemed tax-exempt under the DTAA. The appeal was partially allowed for statistical purposes. en-us Wed, 12 Feb 2020 00:00:00 +0530 Thu, 23 Apr 2020 11:02:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394743 The Tribunal partially ruled in favor of the assessee. The disallowance under Section 14A with Rule 8D(2)(ii) was deleted, and the AO was instructed to recompute the disallowance under Rule 8D(2)(iii) by considering only investments yielding exempt income. Disallowances under Section 40(a)(ia) were sent back to the AO for further review, while the interest payment to HSBC (Mauritius) Ltd was deemed tax-exempt under the DTAA. The appeal was partially allowed for statistical purposes. Case-Laws Income Tax Wed, 12 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394743