https://www.taxtmi.com/caselaws?id=192790 The tribunal allowed both appeals by related assessees against the disallowance of expenditure under section 14A. It held that when an assessee has a net positive income, disallowance of interest expenditure is not justified. Additionally, strategic investments made for control over management, not for earning exempt income, should be excluded from the computation of disallowance under rule 8D(2)(iii). The tribunal directed the Assessing Officer to compute the disallowance based on these principles, treating both appeals as allowed for statistical purposes. en-us Fri, 08 Jan 2016 00:00:00 +0530 Tue, 20 Jun 2017 22:22:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192790 The tribunal allowed both appeals by related assessees against the disallowance of expenditure under section 14A. It held that when an assessee has a net positive income, disallowance of interest expenditure is not justified. Additionally, strategic investments made for control over management, not for earning exempt income, should be excluded from the computation of disallowance under rule 8D(2)(iii). The tribunal directed the Assessing Officer to compute the disallowance based on these principles, treating both appeals as allowed for statistical purposes. Case-Laws Income Tax Fri, 08 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192790