https://www.taxtmi.com/caselaws?id=193497 The Tribunal partially allowed the Assessee's appeal against the disallowance of Rs. 9,75,698 under section 14A of the Income Tax Act, 1961. While upholding the disallowance under Rule 8D(2)(iii) due to ordinary expenses incurred in holding investments, the Tribunal deemed the disallowance towards proportionate interest under Rule 8D(2)(ii) unsustainable. The Assessee's argument of nil administrative expenditure was rejected, and the burden to establish the absence of disallowable expenditure was placed on the Assessee. The appeal was partially allowed based on the financial position and circumstances of the assessee. en-us Fri, 25 Nov 2016 00:00:00 +0530 Wed, 02 Aug 2017 11:01:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193497 The Tribunal partially allowed the Assessee's appeal against the disallowance of Rs. 9,75,698 under section 14A of the Income Tax Act, 1961. While upholding the disallowance under Rule 8D(2)(iii) due to ordinary expenses incurred in holding investments, the Tribunal deemed the disallowance towards proportionate interest under Rule 8D(2)(ii) unsustainable. The Assessee's argument of nil administrative expenditure was rejected, and the burden to establish the absence of disallowable expenditure was placed on the Assessee. The appeal was partially allowed based on the financial position and circumstances of the assessee. Case-Laws Income Tax Fri, 25 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193497