https://www.taxtmi.com/caselaws?id=188820 The Tribunal partially allowed the appeal of a State Government undertaking against the disallowance under Section 14A of the Income-tax Act for tax-free income. Despite the claim of no external expenses, the Tribunal directed the Assessing Officer to consider 0.5% of the average investment value as expenditure for earning income. The decision emphasized the application of Rule 8D in determining expenses related to tax-free income and highlighted the necessity of assessing expenses even in cases where no direct expenditure or interest expenses were incurred. en-us Fri, 19 Feb 2016 00:00:00 +0530 Sat, 17 Dec 2016 12:42:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188820 The Tribunal partially allowed the appeal of a State Government undertaking against the disallowance under Section 14A of the Income-tax Act for tax-free income. Despite the claim of no external expenses, the Tribunal directed the Assessing Officer to consider 0.5% of the average investment value as expenditure for earning income. The decision emphasized the application of Rule 8D in determining expenses related to tax-free income and highlighted the necessity of assessing expenses even in cases where no direct expenditure or interest expenses were incurred. Case-Laws Income Tax Fri, 19 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188820