https://www.taxtmi.com/forum/issue?id=2833 Rule 8D does not create disallowances beyond proper allocation: expenses are claimable as business expenses when incurred in a business or adventure in the nature of trade or commerce, or for holding and carrying inventory, investment trading or capital assets; such expenditures are not expenses for earning dividend income or long term capital gains and thus are not to be treated as attributable to exempt income under disallowance rules. en-us Fri, 25 Feb 2011 16:19:54 +0530 Thu, 23 Jan 2025 15:58:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2833 Rule 8D does not create disallowances beyond proper allocation: expenses are claimable as business expenses when incurred in a business or adventure in the nature of trade or commerce, or for holding and carrying inventory, investment trading or capital assets; such expenditures are not expenses for earning dividend income or long term capital gains and thus are not to be treated as attributable to exempt income under disallowance rules. Discussion-Forum Income Tax Fri, 25 Feb 2011 16:19:54 +0530 https://www.taxtmi.com/forum/issue?id=2833