https://www.taxtmi.com/caselaws?id=196491 The ITAT dismissed the appeals filed by both parties, upholding the CIT(A)'s decisions on disallowance of proportionate expenditure under Section 14A of the Income Tax Act, reducing the deduction under Section 80IA, and disallowance of expenditure under the head Repairs and Maintenance. The ITAT confirmed that administrative expenses related to earning exempt income should be disallowed proportionately, while investments made from surplus funds do not warrant disallowance of interest. Expenditures providing enduring benefits were treated as capital expenditures, while those for maintaining operational efficiency were considered revenue expenditures. en-us Fri, 20 May 2016 00:00:00 +0530 Sun, 03 Dec 2017 10:01:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196491 The ITAT dismissed the appeals filed by both parties, upholding the CIT(A)'s decisions on disallowance of proportionate expenditure under Section 14A of the Income Tax Act, reducing the deduction under Section 80IA, and disallowance of expenditure under the head Repairs and Maintenance. The ITAT confirmed that administrative expenses related to earning exempt income should be disallowed proportionately, while investments made from surplus funds do not warrant disallowance of interest. Expenditures providing enduring benefits were treated as capital expenditures, while those for maintaining operational efficiency were considered revenue expenditures. Case-Laws Income Tax Fri, 20 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196491