https://www.taxtmi.com/caselaws?id=289870 The Tribunal held that disallowance under Section 14A of the Income-tax Act applies to strategic investments in subsidiaries. It disagreed with the Revenue's interpretation of Rule 8D(2)(iii) and emphasized that only investments resulting in exempted income should be considered for disallowance. The Tribunal remitted the matter to the Assessing Officer to identify such investments and decide accordingly, allowing the Revenue's appeal for statistical purposes. en-us Fri, 29 Nov 2019 00:00:00 +0530 Thu, 27 Aug 2020 08:26:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289870 The Tribunal held that disallowance under Section 14A of the Income-tax Act applies to strategic investments in subsidiaries. It disagreed with the Revenue's interpretation of Rule 8D(2)(iii) and emphasized that only investments resulting in exempted income should be considered for disallowance. The Tribunal remitted the matter to the Assessing Officer to identify such investments and decide accordingly, allowing the Revenue's appeal for statistical purposes. Case-Laws Income Tax Fri, 29 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289870