https://www.taxtmi.com/caselaws?id=242683 The Tribunal upheld the disallowance under section 14A and application of Rule-8D for computation of disallowance in the case concerning an art dealer/service provider for the assessment year 2008-2009. The Tribunal found the disallowance justified due to the possibility of indirectly related expenditure for earning exempt income. Additionally, the Tribunal dismissed the appeal, emphasizing the importance of maintaining separate accounts for expenditure related to exempt income and placing the burden on the assessee to prove claims of no expenditure incurred. en-us Wed, 03 Jul 2013 00:00:00 +0530 Sun, 19 Jan 2014 09:47:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242683 The Tribunal upheld the disallowance under section 14A and application of Rule-8D for computation of disallowance in the case concerning an art dealer/service provider for the assessment year 2008-2009. The Tribunal found the disallowance justified due to the possibility of indirectly related expenditure for earning exempt income. Additionally, the Tribunal dismissed the appeal, emphasizing the importance of maintaining separate accounts for expenditure related to exempt income and placing the burden on the assessee to prove claims of no expenditure incurred. Case-Laws Income Tax Wed, 03 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242683