https://www.taxtmi.com/caselaws?id=341328 HC held that the Assessing Officer's disallowance under s.14A and reliance on Rule 8D was impermissible where no exempt income (dividend) formed part of the assessee's total income in the relevant year. The court reasoned Rule 8D only supplies a method to quantify expenditure in relation to exempt income and cannot extend beyond the scope of s.14A. The addition under s.14A was therefore contrary to the statute, and the appeal was allowed in favor of the assessee. en-us Mon, 13 Mar 2017 00:00:00 +0530 Sat, 30 Aug 2025 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341328 HC held that the Assessing Officer's disallowance under s.14A and reliance on Rule 8D was impermissible where no exempt income (dividend) formed part of the assessee's total income in the relevant year. The court reasoned Rule 8D only supplies a method to quantify expenditure in relation to exempt income and cannot extend beyond the scope of s.14A. The addition under s.14A was therefore contrary to the statute, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Mon, 13 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341328