https://www.taxtmi.com/caselaws?id=351356 Section 14A disallowance in relation to exempt dividend income requires a factual nexus between the exempt income and expenditure actually incurred. Where the assessee claims that investments were made out of sufficient interest-free funds and denies any expenditure for earning the exempt income, the matter must be examined on facts before a disallowance under Rule 8D is upheld. Applying jurisdictional High Court principles on the presumption arising from own funds, the Tribunal held that fresh verification was necessary and remitted the issue to the Assessing Officer for de novo consideration after giving the assessee an opportunity to be heard. en-us Mon, 07 Aug 2017 00:00:00 +0530 Fri, 24 Nov 2017 06:23:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351356 Section 14A disallowance in relation to exempt dividend income requires a factual nexus between the exempt income and expenditure actually incurred. Where the assessee claims that investments were made out of sufficient interest-free funds and denies any expenditure for earning the exempt income, the matter must be examined on facts before a disallowance under Rule 8D is upheld. Applying jurisdictional High Court principles on the presumption arising from own funds, the Tribunal held that fresh verification was necessary and remitted the issue to the Assessing Officer for de novo consideration after giving the assessee an opportunity to be heard. Case-Laws Income Tax Mon, 07 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351356