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) Shakuntaladevi Trade & Investments Pvt. Ltd. Vs. The ITO Appellant by : Shri Bikas Kumar Bogi Respondent by : Shri M.L. Perumai, DR Date of Pronouncement : 06.12.2013 O R D E R PER D. KA...