https://www.taxtmi.com/caselaws?id=344597 Section 14A read with Rule 8D applies to the investment portfolio as a whole where exempt income exists, without limiting disallowance to investments that generated exempt income during the year. Interest on borrowings used for interest-free advances to subsidiaries requires verification of the funding pattern and commercial expediency. Commission to non-resident agents for commercial support services is not taxable in India where it is neither royalty nor technical services and the agents lack an Indian permanent establishment, subject to treaty verification. Approval ratification may be considered for section 10B eligibility. Newly pressed deductions require merits examination. Interest on excess refund under section 234D extends to the refunded amount including interest. en-us Mon, 17 Apr 2017 00:00:00 +0530 Wed, 21 Jun 2017 09:21:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344597 Section 14A read with Rule 8D applies to the investment portfolio as a whole where exempt income exists, without limiting disallowance to investments that generated exempt income during the year. Interest on borrowings used for interest-free advances to subsidiaries requires verification of the funding pattern and commercial expediency. Commission to non-resident agents for commercial support services is not taxable in India where it is neither royalty nor technical services and the agents lack an Indian permanent establishment, subject to treaty verification. Approval ratification may be considered for section 10B eligibility. Newly pressed deductions require merits examination. Interest on excess refund under section 234D extends to the refunded amount including interest. Case-Laws Income Tax Mon, 17 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344597