https://www.taxtmi.com/caselaws?id=405292 The Tribunal upheld the disallowance of expenditure under Section 14A, citing the necessity of some expenditure for monitoring financial activities related to earning dividend income. The decision to dismiss the appeal on this ground was supported by the automatic application of Rule 8D. Additionally, the Tribunal agreed with the CIT(A) on the issue of disallowance of set off of brought forward losses due to a pending rectification application. The Tribunal directed the Assessing Officer to decide on the rectification application if pending. The issue of levying interest under Section 234B was not elaborated upon in the detailed analysis provided. en-us Thu, 11 Mar 2021 00:00:00 +0530 Wed, 17 Mar 2021 13:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405292 The Tribunal upheld the disallowance of expenditure under Section 14A, citing the necessity of some expenditure for monitoring financial activities related to earning dividend income. The decision to dismiss the appeal on this ground was supported by the automatic application of Rule 8D. Additionally, the Tribunal agreed with the CIT(A) on the issue of disallowance of set off of brought forward losses due to a pending rectification application. The Tribunal directed the Assessing Officer to decide on the rectification application if pending. The issue of levying interest under Section 234B was not elaborated upon in the detailed analysis provided. Case-Laws Income Tax Thu, 11 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405292