https://www.taxtmi.com/caselaws?id=441349 The appellant challenged additional disallowance under section 14A of the Income Tax Act with Rule 8D of the Income-tax Rules. Despite the appellant's explanations and workings, the Ld. AO made disallowances without adequate consideration. The Ld. CIT(A) upheld the disallowance but directed consideration only for investments yielding exempt income. The tribunal, citing Supreme Court precedent, directed the Ld. AO to delete the disallowance. Consequently, the appeal was allowed, and the disallowance under section 14A of the Act was directed to be deleted. en-us Wed, 10 May 2023 00:00:00 +0530 Sat, 05 Aug 2023 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441349 The appellant challenged additional disallowance under section 14A of the Income Tax Act with Rule 8D of the Income-tax Rules. Despite the appellant's explanations and workings, the Ld. AO made disallowances without adequate consideration. The Ld. CIT(A) upheld the disallowance but directed consideration only for investments yielding exempt income. The tribunal, citing Supreme Court precedent, directed the Ld. AO to delete the disallowance. Consequently, the appeal was allowed, and the disallowance under section 14A of the Act was directed to be deleted. Case-Laws Income Tax Wed, 10 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441349