https://www.taxtmi.com/caselaws?id=292221 The ITAT ruled in favor of the assessee, holding that the disallowance under Rule 8D(2)(ii) was not applicable as the company's own funds exceeded investments in shares, and borrowed funds were not used for acquiring shares. Citing legal precedents, the ITAT directed the deletion of the disallowance under Rule 8D(2)(ii) of the IT Rules, allowing the assessee's appeal. en-us Tue, 31 Dec 2019 00:00:00 +0530 Sat, 12 Dec 2020 07:17:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292221 The ITAT ruled in favor of the assessee, holding that the disallowance under Rule 8D(2)(ii) was not applicable as the company's own funds exceeded investments in shares, and borrowed funds were not used for acquiring shares. Citing legal precedents, the ITAT directed the deletion of the disallowance under Rule 8D(2)(ii) of the IT Rules, allowing the assessee's appeal. Case-Laws Income Tax Tue, 31 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292221