https://www.taxtmi.com/caselaws?id=252912 The Tribunal partly allowed the assessee's appeal, deleting the disallowance of Rs. 13,49,17,666 towards interest expenditure but sustaining the disallowance of Rs. 74,12,030 towards administrative expenses under Section 14A read with Rule 8D of the Income Tax Rules. The judgment highlighted the necessity of a clear nexus between borrowed funds and investments for disallowance and affirmed the statutory obligation to disallow administrative expenses at 0.5% of the average value of investments. The decision was rendered on 10/10/2014. en-us Fri, 10 Oct 2014 00:00:00 +0530 Thu, 06 Nov 2014 22:06:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252912 The Tribunal partly allowed the assessee's appeal, deleting the disallowance of Rs. 13,49,17,666 towards interest expenditure but sustaining the disallowance of Rs. 74,12,030 towards administrative expenses under Section 14A read with Rule 8D of the Income Tax Rules. The judgment highlighted the necessity of a clear nexus between borrowed funds and investments for disallowance and affirmed the statutory obligation to disallow administrative expenses at 0.5% of the average value of investments. The decision was rendered on 10/10/2014. Case-Laws Income Tax Fri, 10 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252912