https://www.taxtmi.com/caselaws?id=443047 The Tribunal directed the Assessing Officer to delete the disallowance of interest under Rule 8D(2)(ii) and the entire disallowance under section 14A of the Income Tax Act, 1961. The Tribunal remanded the issue of the revised computation of income for fresh adjudication by the Commissioner, citing that the limitation for considering fresh claims applies to the assessing authority and not the Tribunal. The Tribunal allowed the appeal for statistical purposes regarding the challenge to the chargeability of interest under section 234B of the Act, ruling in favor of the assessee for the relevant assessment year. en-us Tue, 25 Apr 2023 00:00:00 +0530 Fri, 15 Sep 2023 08:53:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443047 The Tribunal directed the Assessing Officer to delete the disallowance of interest under Rule 8D(2)(ii) and the entire disallowance under section 14A of the Income Tax Act, 1961. The Tribunal remanded the issue of the revised computation of income for fresh adjudication by the Commissioner, citing that the limitation for considering fresh claims applies to the assessing authority and not the Tribunal. The Tribunal allowed the appeal for statistical purposes regarding the challenge to the chargeability of interest under section 234B of the Act, ruling in favor of the assessee for the relevant assessment year. Case-Laws Income Tax Tue, 25 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443047