https://www.taxtmi.com/caselaws?id=200037 The Tribunal upheld the First Appellate Authority's decision to consider net interest for computing disallowance under section 14A of the Income Tax Act, emphasizing the need to establish a direct nexus between investments in securities and exempt income. The Tribunal dismissed the Assessing Officer's appeal, affirming the correct application of Rule 8D for disallowance calculation and the importance of apportioning interest expenditure accurately. en-us Wed, 07 Oct 2015 00:00:00 +0530 Mon, 19 Mar 2018 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200037 The Tribunal upheld the First Appellate Authority's decision to consider net interest for computing disallowance under section 14A of the Income Tax Act, emphasizing the need to establish a direct nexus between investments in securities and exempt income. The Tribunal dismissed the Assessing Officer's appeal, affirming the correct application of Rule 8D for disallowance calculation and the importance of apportioning interest expenditure accurately. Case-Laws Income Tax Wed, 07 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200037