https://www.taxtmi.com/caselaws?id=261571 Disallowance under section 14A read with rule 8D(2)(ii) was deleted because the Assessing Officer had not recorded objective satisfaction from the accounts and no nexus was shown between borrowed funds and exempt investments. Disallowance under rule 8D(2)(iii) was set aside for fresh examination on the same satisfaction requirement. Proportionate deduction under section 80-IB(10) was allowed unit-wise for qualifying residential units within the prescribed built-up area. Interest disallowance under section 36(1)(iii) was not sustained where own funds were sufficient and no diversion of borrowings was established. Notional annual value of the school property was treated as taxable under income from house property. en-us Wed, 08 Jul 2015 00:00:00 +0530 Thu, 16 Jul 2015 08:44:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261571 Disallowance under section 14A read with rule 8D(2)(ii) was deleted because the Assessing Officer had not recorded objective satisfaction from the accounts and no nexus was shown between borrowed funds and exempt investments. Disallowance under rule 8D(2)(iii) was set aside for fresh examination on the same satisfaction requirement. Proportionate deduction under section 80-IB(10) was allowed unit-wise for qualifying residential units within the prescribed built-up area. Interest disallowance under section 36(1)(iii) was not sustained where own funds were sufficient and no diversion of borrowings was established. Notional annual value of the school property was treated as taxable under income from house property. Case-Laws Income Tax Wed, 08 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261571