https://www.taxtmi.com/caselaws?id=267149 The Tribunal upheld the addition of Rs. 304,622 under Section 14A read with Rule 8D of the Income Tax Rules, rejecting the assessee's arguments that investments were made from internal accruals, not borrowed funds, and no exempt income was earned. The Tribunal found the AO had recorded satisfaction under Section 14A(2) and concluded that the disallowance was justified, dismissing the appeal. The Tribunal also held that the judicial precedents cited by the assessee were not applicable in this case. en-us Thu, 24 Sep 2015 00:00:00 +0530 Sat, 31 Oct 2015 09:41:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267149 The Tribunal upheld the addition of Rs. 304,622 under Section 14A read with Rule 8D of the Income Tax Rules, rejecting the assessee's arguments that investments were made from internal accruals, not borrowed funds, and no exempt income was earned. The Tribunal found the AO had recorded satisfaction under Section 14A(2) and concluded that the disallowance was justified, dismissing the appeal. The Tribunal also held that the judicial precedents cited by the assessee were not applicable in this case. Case-Laws Income Tax Thu, 24 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267149