https://www.taxtmi.com/caselaws?id=369075 The High Court dismissed the Tax Appeals challenging the disallowance of expenditure under section 14A of the Income Tax Act. The court upheld that disallowance is not warranted if surplus interest-free funds are accessible for tax-free investments, emphasizing the necessity of the Assessing Officer's satisfaction before applying disallowance rules. The judgment extensively analyzed the interpretation of Rule 8D and the relevance of the Supreme Court's decision in Maxopp Investment Ltd. case, affirming the existing requirements for determining disallowance under section 14A. en-us Mon, 15 Oct 2018 00:00:00 +0530 Thu, 18 Oct 2018 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369075 The High Court dismissed the Tax Appeals challenging the disallowance of expenditure under section 14A of the Income Tax Act. The court upheld that disallowance is not warranted if surplus interest-free funds are accessible for tax-free investments, emphasizing the necessity of the Assessing Officer's satisfaction before applying disallowance rules. The judgment extensively analyzed the interpretation of Rule 8D and the relevance of the Supreme Court's decision in Maxopp Investment Ltd. case, affirming the existing requirements for determining disallowance under section 14A. Case-Laws Income Tax Mon, 15 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369075