In appellate proceedings, Tribunal restricted disallowance under section 14A, read with rule 8D by relying on decision of Jurisdictional High Court.  Revenue filed appeal against said order by raising a plea that they had filed an SLP before Supreme Court against decision relied upon by Tribunal. High Court took a view that mere filing of an SLP by revenue to Apex Court, in absence of any stay, would not in any manner impact binding nature of orders of Jurisdictional High Court on all authorities functioning within State. High Court, thus, dismissed revenue’s appeal. Revenue sought to withdraw SLP filed against order of High Court due to low tax effect. Whether, on facts, SLP filed by revenue was to be dismissed as withdrawn. (AY. 2006-07)