https://www.taxtmi.com/caselaws?id=279375 Disallowance under section 14A must have a direct or proximate nexus with exempt income and cannot be applied to produce an amount exceeding the administrative expenditure actually relatable to that income. Where the assessee had already made a reasonable suo motu disallowance and no specific higher expenditure with the required nexus was shown, Rule 8D(2)(iii) could not justify a further addition. The Assessing Officer's disallowance was deleted. en-us Mon, 29 Feb 2016 00:00:00 +0530 Fri, 15 Mar 2019 07:31:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279375 Disallowance under section 14A must have a direct or proximate nexus with exempt income and cannot be applied to produce an amount exceeding the administrative expenditure actually relatable to that income. Where the assessee had already made a reasonable suo motu disallowance and no specific higher expenditure with the required nexus was shown, Rule 8D(2)(iii) could not justify a further addition. The Assessing Officer's disallowance was deleted. Case-Laws Income Tax Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279375