https://www.taxtmi.com/caselaws?id=438822 The Tribunal upheld the CIT(A)'s decision to restrict disallowance under Section 14A, ruling that only investments yielding exempt income should be considered for Rule 8D computation. The Tribunal also confirmed the deletion of the addition on capitalization of license fee, following past decisions treating such fees as revenue expenditure. Additionally, the Tribunal directed the Assessing Officer to verify the TDS credit claim to avoid double taxation. The Tribunal dismissed the Revenue's appeal, allowed the assessee's cross-objection, and pronounced the order on 07/06/2023. en-us Wed, 07 Jun 2023 00:00:00 +0530 Thu, 08 Jun 2023 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438822 The Tribunal upheld the CIT(A)'s decision to restrict disallowance under Section 14A, ruling that only investments yielding exempt income should be considered for Rule 8D computation. The Tribunal also confirmed the deletion of the addition on capitalization of license fee, following past decisions treating such fees as revenue expenditure. Additionally, the Tribunal directed the Assessing Officer to verify the TDS credit claim to avoid double taxation. The Tribunal dismissed the Revenue's appeal, allowed the assessee's cross-objection, and pronounced the order on 07/06/2023. Case-Laws Income Tax Wed, 07 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438822