https://www.taxtmi.com/caselaws?id=411268 The ITAT dismissed the revenue's appeals and upheld CIT(A)'s decisions, deleting substantial disallowances under Sections 14A and 80IC of the Income Tax Act for different assessment years. The judgments highlighted the necessity of reasonable disallowances based on facts, adherence to judicial precedents, and the non-retrospective application of Rule 8D. The ITAT supported the assessee's methods of expense allocation, emphasizing consistency with earlier rulings and rejecting the revenue's contentions. en-us Thu, 29 Jul 2021 00:00:00 +0530 Sat, 21 Aug 2021 08:32:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411268 The ITAT dismissed the revenue's appeals and upheld CIT(A)'s decisions, deleting substantial disallowances under Sections 14A and 80IC of the Income Tax Act for different assessment years. The judgments highlighted the necessity of reasonable disallowances based on facts, adherence to judicial precedents, and the non-retrospective application of Rule 8D. The ITAT supported the assessee's methods of expense allocation, emphasizing consistency with earlier rulings and rejecting the revenue's contentions. Case-Laws Income Tax Thu, 29 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411268