https://www.taxtmi.com/caselaws?id=310541 The ITAT partially allowed the assessee's appeal concerning the disallowance under Section 14A r.w. Rule 8D (2)(ii) and clause (iii) of the Income Tax Act, 1961, for the assessment year 2012-13. The tribunal restricted the disallowance to the amount of exempt income earned, Rs. 83,613, aligning with the legal precedent set by the Delhi HC. The ITAT emphasized that this decision should not serve as a precedent for future assessments, thereby partially accepting the assessee's contention and limiting the disallowance to the exempt income figure. en-us Mon, 08 Jan 2018 00:00:00 +0530 Mon, 30 Oct 2023 20:38:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310541 The ITAT partially allowed the assessee's appeal concerning the disallowance under Section 14A r.w. Rule 8D (2)(ii) and clause (iii) of the Income Tax Act, 1961, for the assessment year 2012-13. The tribunal restricted the disallowance to the amount of exempt income earned, Rs. 83,613, aligning with the legal precedent set by the Delhi HC. The ITAT emphasized that this decision should not serve as a precedent for future assessments, thereby partially accepting the assessee's contention and limiting the disallowance to the exempt income figure. Case-Laws Income Tax Mon, 08 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310541