https://www.taxtmi.com/caselaws?id=242539 The Tribunal remanded the issue to the Assessing Officer for further investigation to establish the direct attribution of interest expenses to specific income sources under section 14A. It directed authorities to limit disallowance under Rule 8D(2)(iii) to actual expenditure incurred by the assessee, emphasizing that disallowance cannot exceed the total claimed amount. The Tribunal held that authorities lacked the authority to alter the calculation provided in Rule 8D(2)(iii), emphasizing that the prescribed calculation should not be disturbed. The Tribunal partly allowed appeals of both parties for statistical purposes, stressing the importance of detailed investigations and adherence to actual expenditure limits. en-us Tue, 29 Oct 2013 00:00:00 +0530 Fri, 17 Jan 2014 11:14:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242539 The Tribunal remanded the issue to the Assessing Officer for further investigation to establish the direct attribution of interest expenses to specific income sources under section 14A. It directed authorities to limit disallowance under Rule 8D(2)(iii) to actual expenditure incurred by the assessee, emphasizing that disallowance cannot exceed the total claimed amount. The Tribunal held that authorities lacked the authority to alter the calculation provided in Rule 8D(2)(iii), emphasizing that the prescribed calculation should not be disturbed. The Tribunal partly allowed appeals of both parties for statistical purposes, stressing the importance of detailed investigations and adherence to actual expenditure limits. Case-Laws Income Tax Tue, 29 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242539