https://www.taxtmi.com/caselaws?id=426495 The Appellate Tribunal upheld the CIT(A)'s decision to restrict the disallowance under Section 14A of the Income Tax Act based on legal precedents and specific case facts. The ITAT dismissed the Revenue's appeal challenging the disallowance of Rs.9,06,254 out of a total disallowance of Rs.1,65,83,699 for Assessment Year 2016-17. The ITAT also rejected the Revenue's argument regarding the interpretation of Rule 8D and CBDT Circular No. 5/2014, leading to the dismissal of both the Revenue's appeal and the assessee's cross-objection for the said assessment year. en-us Wed, 20 Jul 2022 00:00:00 +0530 Wed, 17 Aug 2022 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426495 The Appellate Tribunal upheld the CIT(A)'s decision to restrict the disallowance under Section 14A of the Income Tax Act based on legal precedents and specific case facts. The ITAT dismissed the Revenue's appeal challenging the disallowance of Rs.9,06,254 out of a total disallowance of Rs.1,65,83,699 for Assessment Year 2016-17. The ITAT also rejected the Revenue's argument regarding the interpretation of Rule 8D and CBDT Circular No. 5/2014, leading to the dismissal of both the Revenue's appeal and the assessee's cross-objection for the said assessment year. Case-Laws Income Tax Wed, 20 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426495