https://www.taxtmi.com/caselaws?id=247995 The Tribunal dismissed the appellant's appeal for both assessment years. For the disallowance of interest under section 14A for AY 2008-09, the Tribunal held that no disallowance could be made if no expenditure was incurred in relation to exempt income. While upholding the source of funds for investments, it required quantification of administrative expenses. Regarding the disallowance under section 43B for AY 2009-10, the Tribunal refused to set aside the matter, as the Assessing Officer's decision aligned with the Supreme Court's order. The appellant was advised to seek appropriate remedies post the Supreme Court's adjudication. en-us Fri, 21 Mar 2014 00:00:00 +0530 Thu, 29 May 2014 10:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247995 The Tribunal dismissed the appellant's appeal for both assessment years. For the disallowance of interest under section 14A for AY 2008-09, the Tribunal held that no disallowance could be made if no expenditure was incurred in relation to exempt income. While upholding the source of funds for investments, it required quantification of administrative expenses. Regarding the disallowance under section 43B for AY 2009-10, the Tribunal refused to set aside the matter, as the Assessing Officer's decision aligned with the Supreme Court's order. The appellant was advised to seek appropriate remedies post the Supreme Court's adjudication. Case-Laws Income Tax Fri, 21 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247995