https://www.taxtmi.com/caselaws?id=464009 ITAT MUMBAI (AT) dismissed Revenue's appeal upholding CIT(A)'s deletion of interest disallowance u/s 14A read with Rule 8D(2)(ii), finding the assessees' own capital and reserves exceeded investments so funds were presumed interest-free per HC precedents. The Tribunal directed the AO to limit disallowance under Rule 8D(2)(iii) to the amount of exempt dividend income received (Rs.32,400) for the year, and otherwise affirmed the appellate findings. en-us Fri, 03 Mar 2017 00:00:00 +0530 Fri, 26 Sep 2025 20:09:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464009 ITAT MUMBAI (AT) dismissed Revenue's appeal upholding CIT(A)'s deletion of interest disallowance u/s 14A read with Rule 8D(2)(ii), finding the assessees' own capital and reserves exceeded investments so funds were presumed interest-free per HC precedents. The Tribunal directed the AO to limit disallowance under Rule 8D(2)(iii) to the amount of exempt dividend income received (Rs.32,400) for the year, and otherwise affirmed the appellate findings. Case-Laws Income Tax Fri, 03 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464009