https://www.taxtmi.com/caselaws?id=399173 The High Court addressed the interpretation of disallowance under Section 14A with Rule 8D of the Income Tax Act, focusing on whether such disallowance should be restricted to the extent of exempted income. The Court remanded the matter to the Tribunal to allow the Hon'ble Administrator, representing the company under liquidation, to present their case and for the Tribunal to pass fresh orders based on merit and in accordance with the law. The Court emphasized the importance of fair representation and a just resolution in light of the unique circumstances of the company's liquidation. en-us Tue, 29 Sep 2020 00:00:00 +0530 Mon, 05 Oct 2020 09:02:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399173 The High Court addressed the interpretation of disallowance under Section 14A with Rule 8D of the Income Tax Act, focusing on whether such disallowance should be restricted to the extent of exempted income. The Court remanded the matter to the Tribunal to allow the Hon'ble Administrator, representing the company under liquidation, to present their case and for the Tribunal to pass fresh orders based on merit and in accordance with the law. The Court emphasized the importance of fair representation and a just resolution in light of the unique circumstances of the company's liquidation. Case-Laws Income Tax Tue, 29 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399173