https://www.taxtmi.com/caselaws?id=290127 The Tribunal allowed the assessee's appeal, overturning the disallowance of administrative and personnel expenses under section 14A of the Income-tax Act, 1961. The Tribunal upheld the assessee's methodology for allocation of expenses related to earning exempt dividend income, rejecting the Assessing Officer's approach and Rule 8D. The Revenue's appeal challenging the deletion of interest disallowance was dismissed, affirming the CIT(A)'s decision. The Tribunal directed the Assessing Officer to accept the assessee's suo moto disallowance for administrative expenses. The order was pronounced on 03.04.2019. en-us Wed, 03 Apr 2019 00:00:00 +0530 Thu, 10 Sep 2020 10:16:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290127 The Tribunal allowed the assessee's appeal, overturning the disallowance of administrative and personnel expenses under section 14A of the Income-tax Act, 1961. The Tribunal upheld the assessee's methodology for allocation of expenses related to earning exempt dividend income, rejecting the Assessing Officer's approach and Rule 8D. The Revenue's appeal challenging the deletion of interest disallowance was dismissed, affirming the CIT(A)'s decision. The Tribunal directed the Assessing Officer to accept the assessee's suo moto disallowance for administrative expenses. The order was pronounced on 03.04.2019. Case-Laws Income Tax Wed, 03 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290127