https://www.taxtmi.com/caselaws?id=299742 The High Court upheld the Income Tax Appellate Tribunal's decision regarding disallowance under Section 14A read with Rule 8D for the assessment year 2013-14. The Court found that the Tribunal's order adequately addressed the Revenue's concerns and reasoned the disallowance based on the average value of the investment. It concluded that the Tribunal's decision was well-founded, confirming the expenditure's reasonableness after due consideration. As a result, the Court dismissed the appeal, finding no substantial legal issues to warrant further consideration. en-us Mon, 31 Aug 2020 00:00:00 +0530 Tue, 28 Dec 2021 08:50:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299742 The High Court upheld the Income Tax Appellate Tribunal's decision regarding disallowance under Section 14A read with Rule 8D for the assessment year 2013-14. The Court found that the Tribunal's order adequately addressed the Revenue's concerns and reasoned the disallowance based on the average value of the investment. It concluded that the Tribunal's decision was well-founded, confirming the expenditure's reasonableness after due consideration. As a result, the Court dismissed the appeal, finding no substantial legal issues to warrant further consideration. Case-Laws Income Tax Mon, 31 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299742