https://www.taxtmi.com/caselaws?id=262681 The appellant challenged disallowance under section 14A read with Rule 8D for administrative expenses related to exempt income. The CIT(A) upheld the AO's decision, but the Tribunal directed a 10% restriction on disallowance for consistency. Regarding interest income on inter-corporate deposits, the Tribunal deemed it as income from other sources, not business income, due to the appellant's primary real estate business. The appeal was partly allowed. en-us Fri, 30 Jan 2015 00:00:00 +0530 Tue, 18 Aug 2015 06:47:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262681 The appellant challenged disallowance under section 14A read with Rule 8D for administrative expenses related to exempt income. The CIT(A) upheld the AO's decision, but the Tribunal directed a 10% restriction on disallowance for consistency. Regarding interest income on inter-corporate deposits, the Tribunal deemed it as income from other sources, not business income, due to the appellant's primary real estate business. The appeal was partly allowed. Case-Laws Income Tax Fri, 30 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262681