https://www.taxtmi.com/caselaws?id=171017 The tribunal partially allowed the appeal concerning disallowance of interest expenditure under section 14A of the Income Tax Act, 1961. The appellant's arguments were not accepted, and the disallowance was ruled to be based on facts rather than presumptions. The disallowance of indirect administrative expenditure was upheld as the appellant failed to provide evidence. The computation of disallowance related to profit from a partnership firm was to follow the ratio from a specific case. The adjustment to book profit under section 14A was confirmed, emphasizing taxation only on net income after expenditure exclusion. The decision was supported by legal provisions and upheld by the tribunal. en-us Mon, 17 Nov 2014 00:00:00 +0530 Wed, 10 Jun 2015 11:30:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171017 The tribunal partially allowed the appeal concerning disallowance of interest expenditure under section 14A of the Income Tax Act, 1961. The appellant's arguments were not accepted, and the disallowance was ruled to be based on facts rather than presumptions. The disallowance of indirect administrative expenditure was upheld as the appellant failed to provide evidence. The computation of disallowance related to profit from a partnership firm was to follow the ratio from a specific case. The adjustment to book profit under section 14A was confirmed, emphasizing taxation only on net income after expenditure exclusion. The decision was supported by legal provisions and upheld by the tribunal. Case-Laws Income Tax Mon, 17 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171017