https://www.taxtmi.com/caselaws?id=217919 The Tribunal held that disallowance of interest expenditure under Section 14A cannot be made if the amount is not claimed as an expense, resulting in the disallowance being deleted. Additionally, the disallowance under Rule 8D(2) for audit fees, general expenses, and conveyance was restricted to the actual expenditure claimed by the appellant, emphasizing the need for a direct nexus between expenditure and income not forming part of total income. The appeal was allowed in part. en-us Fri, 19 Oct 2012 00:00:00 +0530 Mon, 29 Oct 2012 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217919 The Tribunal held that disallowance of interest expenditure under Section 14A cannot be made if the amount is not claimed as an expense, resulting in the disallowance being deleted. Additionally, the disallowance under Rule 8D(2) for audit fees, general expenses, and conveyance was restricted to the actual expenditure claimed by the appellant, emphasizing the need for a direct nexus between expenditure and income not forming part of total income. The appeal was allowed in part. Case-Laws Income Tax Fri, 19 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217919