https://www.taxtmi.com/caselaws?id=403736 The Tribunal upheld the CIT(A)'s decision in a tax appeal case. The disallowance under section 14A with Rule 8D was partly allowed, considering investments and exempt income. The disallowance for interest on IT equipment finance lease under Rule 8D(2)(ii) was upheld. Additionally, the allowance of expenditure under section 37 was supported, specifically for subsidiary transactions. The Tribunal agreed with the CIT(A)'s findings on various expenses, leading to the dismissal of the Revenue's appeal. en-us Fri, 05 Feb 2021 00:00:00 +0530 Sat, 06 Feb 2021 11:24:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403736 The Tribunal upheld the CIT(A)'s decision in a tax appeal case. The disallowance under section 14A with Rule 8D was partly allowed, considering investments and exempt income. The disallowance for interest on IT equipment finance lease under Rule 8D(2)(ii) was upheld. Additionally, the allowance of expenditure under section 37 was supported, specifically for subsidiary transactions. The Tribunal agreed with the CIT(A)'s findings on various expenses, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Fri, 05 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403736