https://www.taxtmi.com/caselaws?id=188201 The Tribunal partially allowed the appeal of the assessee by reducing the disallowances under both issues. The disallowance for business purposes was decreased from 5% to 2% of claimed expenses as the Assessing Officer failed to prove personal nature of expenses. Regarding ad-hoc disallowance under section 14A, the Tribunal directed a reduction from &8377; 3,41,763 to &8377; 1 lakh, emphasizing Rule-8D application when expenditure related to exempt income is in question. en-us Thu, 11 Jun 2015 00:00:00 +0530 Tue, 22 Nov 2016 11:46:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188201 The Tribunal partially allowed the appeal of the assessee by reducing the disallowances under both issues. The disallowance for business purposes was decreased from 5% to 2% of claimed expenses as the Assessing Officer failed to prove personal nature of expenses. Regarding ad-hoc disallowance under section 14A, the Tribunal directed a reduction from &8377; 3,41,763 to &8377; 1 lakh, emphasizing Rule-8D application when expenditure related to exempt income is in question. Case-Laws Income Tax Thu, 11 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188201