https://www.taxtmi.com/caselaws?id=182899 The Tribunal upheld the Assessing Officer's disallowance of expenditures under Section 14A of the Income Tax Act, citing the statutory presumption of expenditure related to exempt income. The Tribunal dismissed the assessee's appeal, noting that the AO's actions were correct and that the provisions of Section 14A read with Rule 8D were applicable. Additionally, the Tribunal affirmed the CIT(A)'s decision regarding the treatment of forex loss as capital expenditure, in line with Section 43A of the Income Tax Act. The Tribunal's decision was rendered on April 6, 2016, in Chennai. en-us Wed, 06 Apr 2016 00:00:00 +0530 Mon, 23 May 2016 10:03:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182899 The Tribunal upheld the Assessing Officer's disallowance of expenditures under Section 14A of the Income Tax Act, citing the statutory presumption of expenditure related to exempt income. The Tribunal dismissed the assessee's appeal, noting that the AO's actions were correct and that the provisions of Section 14A read with Rule 8D were applicable. Additionally, the Tribunal affirmed the CIT(A)'s decision regarding the treatment of forex loss as capital expenditure, in line with Section 43A of the Income Tax Act. The Tribunal's decision was rendered on April 6, 2016, in Chennai. Case-Laws Income Tax Wed, 06 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182899