https://www.taxtmi.com/caselaws?id=254138 The HC upheld the Tribunal's order disallowing expenses under Section 14A read with Rule 8D related to exempt income from investments in shares and mutual funds. The court affirmed that the AO must be dissatisfied with the assessee's claim before applying the prescribed method. The assessee's self-deductions were found satisfactory, and the AO correctly applied sub-rule (2) of Rule 8D, which mandates disallowance of direct expenditure, interest attributable to exempt income, and 0.5% of the average investment value. The decision favored the assessee, rejecting the revenue's appeal. en-us Tue, 25 Nov 2014 00:00:00 +0530 Fri, 01 Aug 2025 14:54:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254138 The HC upheld the Tribunal's order disallowing expenses under Section 14A read with Rule 8D related to exempt income from investments in shares and mutual funds. The court affirmed that the AO must be dissatisfied with the assessee's claim before applying the prescribed method. The assessee's self-deductions were found satisfactory, and the AO correctly applied sub-rule (2) of Rule 8D, which mandates disallowance of direct expenditure, interest attributable to exempt income, and 0.5% of the average investment value. The decision favored the assessee, rejecting the revenue's appeal. Case-Laws Income Tax Tue, 25 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254138