https://www.taxtmi.com/caselaws?id=244972 The Tribunal partially allowed the appeal, reducing the disallowance of interest paid under section 14A to Rs.5,345, the amount directly related to earning dividend income for the assessment year 2007-08. It held that the Commissioner of Income-tax (Appeals)'s disallowance was excessive and not in line with the statutory provisions, emphasizing that expenditures linked to specific income sources cannot be disallowed under section 14A without direct relation. The appellant's argument regarding the lack of direct connection between interest paid and exempt income was upheld. en-us Wed, 13 Jun 2012 00:00:00 +0530 Fri, 14 Mar 2014 07:24:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244972 The Tribunal partially allowed the appeal, reducing the disallowance of interest paid under section 14A to Rs.5,345, the amount directly related to earning dividend income for the assessment year 2007-08. It held that the Commissioner of Income-tax (Appeals)'s disallowance was excessive and not in line with the statutory provisions, emphasizing that expenditures linked to specific income sources cannot be disallowed under section 14A without direct relation. The appellant's argument regarding the lack of direct connection between interest paid and exempt income was upheld. Case-Laws Income Tax Wed, 13 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244972