https://www.taxtmi.com/caselaws?id=260423 The Tribunal partially allowed the appeal by the revenue regarding the capitalization of interest expenditure and the disallowance of expenditure under section 14A r.w. Rule 8D for earning exempt income for the assessment year 2007-08. The Tribunal emphasized the significance of establishing a direct nexus between expenses and asset acquisition for determining allowable deductions and disallowances under the Income Tax Act. en-us Wed, 04 Mar 2015 00:00:00 +0530 Fri, 12 Jun 2015 05:53:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260423 The Tribunal partially allowed the appeal by the revenue regarding the capitalization of interest expenditure and the disallowance of expenditure under section 14A r.w. Rule 8D for earning exempt income for the assessment year 2007-08. The Tribunal emphasized the significance of establishing a direct nexus between expenses and asset acquisition for determining allowable deductions and disallowances under the Income Tax Act. Case-Laws Income Tax Wed, 04 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260423