https://www.taxtmi.com/caselaws?id=192574 The Tribunal upheld the disallowance under Section 14A read with Rule 8D, amounting to Rs. 37,59,641, due to the assessee's mixed funds and lack of separate accounts for surplus funds. The Tribunal emphasized the principle of apportionment of expenses between taxable and non-taxable income. Additionally, the AO was directed to levy interest under Section 234B in accordance with the law. The appeals of the assessee were dismissed, and the Tribunal's decision was issued on 8.8.2014. en-us Fri, 08 Aug 2014 00:00:00 +0530 Wed, 07 Jun 2017 06:16:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192574 The Tribunal upheld the disallowance under Section 14A read with Rule 8D, amounting to Rs. 37,59,641, due to the assessee's mixed funds and lack of separate accounts for surplus funds. The Tribunal emphasized the principle of apportionment of expenses between taxable and non-taxable income. Additionally, the AO was directed to levy interest under Section 234B in accordance with the law. The appeals of the assessee were dismissed, and the Tribunal's decision was issued on 8.8.2014. Case-Laws Income Tax Fri, 08 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192574