https://www.taxtmi.com/caselaws?id=288607 The Tribunal upheld the Assessing Officer's decision to treat the expenditure as capital in nature for assessment year 2009-10, allowing depreciation at 10%. For assessment year 2012-13, the Tribunal upheld the disallowance under Section 14A of the Income-tax Act, stating that the disallowance under the third limb of Rule 8D(2) cannot exceed the income not forming part of the total income. Consequently, both appeals of the assessee were dismissed, affirming the decisions of the lower authorities in both cases. en-us Fri, 25 Nov 2016 00:00:00 +0530 Fri, 19 Jun 2020 10:30:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288607 The Tribunal upheld the Assessing Officer's decision to treat the expenditure as capital in nature for assessment year 2009-10, allowing depreciation at 10%. For assessment year 2012-13, the Tribunal upheld the disallowance under Section 14A of the Income-tax Act, stating that the disallowance under the third limb of Rule 8D(2) cannot exceed the income not forming part of the total income. Consequently, both appeals of the assessee were dismissed, affirming the decisions of the lower authorities in both cases. Case-Laws Income Tax Fri, 25 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288607