https://www.taxtmi.com/caselaws?id=339038 The Tribunal ruled in favor of the assessee, deleting the disallowance under section 14A as there was no proven nexus between the expenditure and exempt income earned. The delay in filing the appeal was condoned due to the accountant's oversight. The disallowance of Portfolio Management Charges was upheld under section 14A. Rule 8D was deemed inapplicable for the disallowance under section 14A. The disallowance of interest expenses was deleted, and the appeal was allowed based on the sufficient interest-free funds available to cover investments. en-us Tue, 31 Jan 2017 00:00:00 +0530 Fri, 17 Feb 2017 08:43:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339038 The Tribunal ruled in favor of the assessee, deleting the disallowance under section 14A as there was no proven nexus between the expenditure and exempt income earned. The delay in filing the appeal was condoned due to the accountant's oversight. The disallowance of Portfolio Management Charges was upheld under section 14A. Rule 8D was deemed inapplicable for the disallowance under section 14A. The disallowance of interest expenses was deleted, and the appeal was allowed based on the sufficient interest-free funds available to cover investments. Case-Laws Income Tax Tue, 31 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339038