https://www.taxtmi.com/caselaws?id=233995 ITAT addressed multiple tax issues: on disallowance for expenditure relating to exempt income the tribunal found that absent any incurred or claimed expenditure and without AO examining accounts or recording satisfaction, Rule 8D methodology cannot be applied and no disallowance under section 14A is warranted. On TDS under section 40(a)(ia) reimbursement payments lacking an income element for the recipient do not attract withholding, so no disallowance. A professional fee was disallowed because the assessee failed to prove genuineness and commercial seriousness of the aborted project. Interest under advance tax provisions was limited to shortfalls computed on returned income. Compensation was taxable as income from house property, favouring the assessee. en-us Wed, 13 Mar 2013 00:00:00 +0530 Mon, 02 Feb 2026 10:59:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233995 ITAT addressed multiple tax issues: on disallowance for expenditure relating to exempt income the tribunal found that absent any incurred or claimed expenditure and without AO examining accounts or recording satisfaction, Rule 8D methodology cannot be applied and no disallowance under section 14A is warranted. On TDS under section 40(a)(ia) reimbursement payments lacking an income element for the recipient do not attract withholding, so no disallowance. A professional fee was disallowed because the assessee failed to prove genuineness and commercial seriousness of the aborted project. Interest under advance tax provisions was limited to shortfalls computed on returned income. Compensation was taxable as income from house property, favouring the assessee. Case-Laws Income Tax Wed, 13 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233995