Disallowance u/s 14A for the period before AY 2008-09, should be restricted to 2% of dividend income

It was held had held that Dis allowance u/s 14A for the period before AY 2008-09 i.e pre-Rule 8D period, should be restricted to 2% of the dividend income. Shakuntaladevi Trade & Investments Pvt. Ltd. Vs. ITO (ITAT Mumbai).

INCOME TAX APPELLATE TRIBUNAL, MUMBAI

BEFORE SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER

AND SHRI SANJAY GARG, JUDICIAL MEMBER

I.T.A. No. 8006/M/2010 (AY: 2007- 2008)

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