https://www.taxtmi.com/caselaws?id=420082 The Appellate Tribunal ITAT Pune ruled in favor of the assessee, a company engaged in bio energy and solar technologies projects, in a case concerning the disallowance of expenses under Rule 8D(2)(iii) related to dividend income. The Tribunal held that the confirmation of the addition made by the Assessing Officer under section 14A by the Commissioner of Income Tax (Appeals) was unjustified as it exceeded the dividend income earned. Relying on legal precedents, the Tribunal directed the AO to restrict the disallowance under section 14A to the amount of dividend income, ultimately ruling in favor of the assessee. en-us Fri, 18 Feb 2022 00:00:00 +0530 Sat, 26 Mar 2022 08:59:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420082 The Appellate Tribunal ITAT Pune ruled in favor of the assessee, a company engaged in bio energy and solar technologies projects, in a case concerning the disallowance of expenses under Rule 8D(2)(iii) related to dividend income. The Tribunal held that the confirmation of the addition made by the Assessing Officer under section 14A by the Commissioner of Income Tax (Appeals) was unjustified as it exceeded the dividend income earned. Relying on legal precedents, the Tribunal directed the AO to restrict the disallowance under section 14A to the amount of dividend income, ultimately ruling in favor of the assessee. Case-Laws Income Tax Fri, 18 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420082