https://www.taxtmi.com/caselaws?id=401814 The Court dismissed the tax case appeals by the Revenue, affirming that the disallowance under Rule 8D cannot exceed the exempted income earned by the assessee during the relevant assessment year. The substantial question of law was answered against the Revenue, upholding the Tribunal's decision and emphasizing the need for satisfaction by the Assessing Authority in the computation under Rule 8D. en-us Mon, 30 Nov 2020 00:00:00 +0530 Thu, 17 Dec 2020 09:44:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401814 The Court dismissed the tax case appeals by the Revenue, affirming that the disallowance under Rule 8D cannot exceed the exempted income earned by the assessee during the relevant assessment year. The substantial question of law was answered against the Revenue, upholding the Tribunal's decision and emphasizing the need for satisfaction by the Assessing Authority in the computation under Rule 8D. Case-Laws Income Tax Mon, 30 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401814