If provisions of section 14A is to be invoked, disallowance is to be computed as per rule 8D

Brief of the Case: In the cited case, ITAT affirmed the earlier order of ITAT in a similar case of the same assessee that once provisions of section 14A of the IT Act are to be invoked, the disallowance is to be computed as per rule 8D of the IT rules. Facts of the Case: The Assessee was a Public Limited Company and it earned dividend of Rs.1,74,04,733/- during the year. The Assessing Officer disallowed an amount of Rs.28,98,891/- being 0.5% of the average value of investments during the relevant previous year. On aggrieved by the order of the AO, the assessee preferred an appeal before CIT(A)...