https://www.taxtmi.com/caselaws?id=412398 The ITAT ruled in favor of the assessee in a case concerning the allowability of premium payable on redemption of debentures and the disallowance u/s 14A read with Rule 8D. Regarding the premium on debentures, the ITAT upheld the CIT (A)'s decision that the premium can be proportionately spread over the debentures' tenure. On the disallowance issue, the ITAT found that the AO did not properly examine the accounts and allowed the appeals of both the revenue and the assessee, stating that the disallowance under Rule 14A was unjustified. en-us Thu, 08 Jul 2021 00:00:00 +0530 Fri, 17 Sep 2021 14:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412398 The ITAT ruled in favor of the assessee in a case concerning the allowability of premium payable on redemption of debentures and the disallowance u/s 14A read with Rule 8D. Regarding the premium on debentures, the ITAT upheld the CIT (A)'s decision that the premium can be proportionately spread over the debentures' tenure. On the disallowance issue, the ITAT found that the AO did not properly examine the accounts and allowed the appeals of both the revenue and the assessee, stating that the disallowance under Rule 14A was unjustified. Case-Laws Income Tax Thu, 08 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412398