https://www.taxtmi.com/caselaws?id=348217 The Tribunal dismissed the appeal by the Revenue, upholding the order reducing the disallowance under Section 14A of the Income Tax Act, 1961 r/w Rule 8D for Assessment Year 2009-10 to Rs. 2,10,756 from an initial amount of Rs. 9,52,147. The Tribunal found that the assessee had sufficient own funds for investments, thus no allocation of interest expenditure towards earning exempt income was warranted. The Tribunal allowed for the allocation of administrative and other expenses, resulting in the reduced disallowance amount. en-us Tue, 12 Sep 2017 00:00:00 +0530 Mon, 18 Sep 2017 06:15:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348217 The Tribunal dismissed the appeal by the Revenue, upholding the order reducing the disallowance under Section 14A of the Income Tax Act, 1961 r/w Rule 8D for Assessment Year 2009-10 to Rs. 2,10,756 from an initial amount of Rs. 9,52,147. The Tribunal found that the assessee had sufficient own funds for investments, thus no allocation of interest expenditure towards earning exempt income was warranted. The Tribunal allowed for the allocation of administrative and other expenses, resulting in the reduced disallowance amount. Case-Laws Income Tax Tue, 12 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348217