https://www.taxtmi.com/caselaws?id=424307 The Tribunal partly allowed the appeal of the assessee, directing the Assessing Officer to calculate the disallowance under Section 14A read with Rule 8D based on net interest expenditure, following the precedent set by the Hon'ble Gujarat High Court. The decision emphasized deducting taxable income earned while determining the disallowance. This ruling, pronounced on 16th June 2022, granted relief to the assessee by considering net interest expenditure for the disallowance under Section 14A read with Rule 8D. en-us Thu, 16 Jun 2022 00:00:00 +0530 Mon, 09 Jan 2023 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424307 The Tribunal partly allowed the appeal of the assessee, directing the Assessing Officer to calculate the disallowance under Section 14A read with Rule 8D based on net interest expenditure, following the precedent set by the Hon'ble Gujarat High Court. The decision emphasized deducting taxable income earned while determining the disallowance. This ruling, pronounced on 16th June 2022, granted relief to the assessee by considering net interest expenditure for the disallowance under Section 14A read with Rule 8D. Case-Laws Income Tax Thu, 16 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424307