https://www.taxtmi.com/caselaws?id=210967 Section 14A may disallow expenditure incurred in relation to exempt income even where no exempt income was received during the relevant year, provided a direct or indirect nexus between the expenditure and exempt-income investments is established. Substantial investments may support an inference of attributable expenditure, but require proper factfinding on managerial time and other related costs. Where the Assessing Officer and Commissioner (Appeals) have not adequately examined such expenditure, the disallowance requires fresh determination after hearing the assessee. Rule 8D may be used to compute the disallowance where warranted by that enquiry. en-us Mon, 09 Jan 2012 00:00:00 +0530 Wed, 03 Dec 2025 13:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210967 Section 14A may disallow expenditure incurred in relation to exempt income even where no exempt income was received during the relevant year, provided a direct or indirect nexus between the expenditure and exempt-income investments is established. Substantial investments may support an inference of attributable expenditure, but require proper factfinding on managerial time and other related costs. Where the Assessing Officer and Commissioner (Appeals) have not adequately examined such expenditure, the disallowance requires fresh determination after hearing the assessee. Rule 8D may be used to compute the disallowance where warranted by that enquiry. Case-Laws Income Tax Mon, 09 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210967