https://www.taxtmi.com/caselaws?id=194653 The Tribunal dismissed the Revenue's appeal challenging the disallowance of administrative expenses under Section 14A read with Rule 8D for the assessment year 2008-09. The Tribunal held that Rule 8D should only be applied when there is a direct nexus between the expenditure and the exempt income, and the disallowance cannot exceed the actual claim of expenditure. Emphasizing the purpose of Section 14A, the Tribunal concluded that the disallowance should be limited to the amount actually claimed by the assessee. en-us Fri, 29 Nov 2013 00:00:00 +0530 Mon, 18 Sep 2017 12:06:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194653 The Tribunal dismissed the Revenue's appeal challenging the disallowance of administrative expenses under Section 14A read with Rule 8D for the assessment year 2008-09. The Tribunal held that Rule 8D should only be applied when there is a direct nexus between the expenditure and the exempt income, and the disallowance cannot exceed the actual claim of expenditure. Emphasizing the purpose of Section 14A, the Tribunal concluded that the disallowance should be limited to the amount actually claimed by the assessee. Case-Laws Income Tax Fri, 29 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194653