https://www.taxtmi.com/caselaws?id=467878 For disallowance under section 14A read with Rule 8D, only investments that actually yielded exempt income during the relevant previous year are to be considered. The Tribunal held that the Explanation inserted by the Finance Act, 2022 does not apply retrospectively to the assessment years in question, so it cannot govern those years. On that basis, the view that Rule 8D computation is limited to such income-yielding investments was affirmed, and the Revenue's contrary position was rejected. en-us Wed, 27 Mar 2024 00:00:00 +0530 Wed, 08 Apr 2026 10:37:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467878 For disallowance under section 14A read with Rule 8D, only investments that actually yielded exempt income during the relevant previous year are to be considered. The Tribunal held that the Explanation inserted by the Finance Act, 2022 does not apply retrospectively to the assessment years in question, so it cannot govern those years. On that basis, the view that Rule 8D computation is limited to such income-yielding investments was affirmed, and the Revenue's contrary position was rejected. Case-Laws Income Tax Wed, 27 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467878