https://www.taxtmi.com/caselaws?id=399964 The Tribunal partly allowed the appeals for statistical purposes, directing the Assessing Officer to re-compute the disallowance under Section 14A read with Rule 8D(2)(iii) for the assessment years 2015-16 and 2016-17. The Tribunal held that interest paid to partners by the partnership firm is not subject to disallowance under Section 14A, but upheld the disallowance under Rule 8D(iii) due to lack of specific plea from the assessee. The issue was restored to the AO for re-computation of the disallowance under Rule 8D r.w.s. 14A. en-us Wed, 21 Oct 2020 00:00:00 +0530 Fri, 23 Oct 2020 16:15:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399964 The Tribunal partly allowed the appeals for statistical purposes, directing the Assessing Officer to re-compute the disallowance under Section 14A read with Rule 8D(2)(iii) for the assessment years 2015-16 and 2016-17. The Tribunal held that interest paid to partners by the partnership firm is not subject to disallowance under Section 14A, but upheld the disallowance under Rule 8D(iii) due to lack of specific plea from the assessee. The issue was restored to the AO for re-computation of the disallowance under Rule 8D r.w.s. 14A. Case-Laws Income Tax Wed, 21 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399964