https://www.taxtmi.com/caselaws?id=294789 The Appellate Tribunal ruled in favor of the appellant, holding that the disallowance under section 14A r.w. Rule 8D of the Income Tax Rules, 1961 was not justified. The Tribunal found that the appellant had sufficient own funds and there was no evidence linking borrowed funds to share investments. Emphasizing that disallowances should not exceed claimed expenditure, the Tribunal decided in favor of the appellant, emphasizing that such disallowances must be based on established legal principles. en-us Mon, 04 Apr 2016 00:00:00 +0530 Mon, 03 May 2021 21:01:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294789 The Appellate Tribunal ruled in favor of the appellant, holding that the disallowance under section 14A r.w. Rule 8D of the Income Tax Rules, 1961 was not justified. The Tribunal found that the appellant had sufficient own funds and there was no evidence linking borrowed funds to share investments. Emphasizing that disallowances should not exceed claimed expenditure, the Tribunal decided in favor of the appellant, emphasizing that such disallowances must be based on established legal principles. Case-Laws Income Tax Mon, 04 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294789