https://www.taxtmi.com/caselaws?id=271465 The Tribunal upheld the disallowance of Rs. 15,36,264/- under Section 14A read with Rule 8D, rejecting the assessee firm's argument that interest paid to partners should not be considered as an expenditure for earning exempt income. Additionally, the Tribunal allowed the deduction of export commission paid to foreign agents without tax deduction at source under Section 195, based on the finding that the payments were for services rendered outside India and not for managerial or technical services. Both the assessee firm's and the Revenue's appeals were dismissed. en-us Mon, 01 Feb 2016 00:00:00 +0530 Thu, 04 Feb 2016 15:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271465 The Tribunal upheld the disallowance of Rs. 15,36,264/- under Section 14A read with Rule 8D, rejecting the assessee firm's argument that interest paid to partners should not be considered as an expenditure for earning exempt income. Additionally, the Tribunal allowed the deduction of export commission paid to foreign agents without tax deduction at source under Section 195, based on the finding that the payments were for services rendered outside India and not for managerial or technical services. Both the assessee firm's and the Revenue's appeals were dismissed. Case-Laws Income Tax Mon, 01 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271465