TMI Blog2019 (6) TMI 711X X X X Extracts X X X X X X X X Extracts X X X X ..... impugned Order passed by the Tribunal. Several High Courts have taken a view that where the assessee had earned exempt income, disallowance of expenditure under Rule 8D of the Income Tax Rules, 1962, would not be permissible. - Decided against revenue - INCOME TAX APPEAL NO. 561 OF 2017 - - - Dated:- 4-6-2019 - AKIL KURESHI S.J. KATHAWALLA, JJ. Mr. Suresh Kumar for the Appella ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ure of ₹ 41,85,747/-, which was disallowed by the Assessing Officer under Section 14A of Income Tax Act, 1961 (for short 'the Act'). The CIT Appeal restricted the disallowance of ₹ 5 Lacs. The Respondent - Assessee did not challenge this Order. The Revenue filed an Appeal before the Tribunal. The Tribunal rejected the Appeal of the Revenue on the ground that during period under ..... X X X X Extracts X X X X X X X X Extracts X X X X
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