https://www.taxtmi.com/caselaws?id=280293 Interest on assigned debts pending recovery suit did not accrue for tax until the right to receive it crystallised on decree under section 34 of the Code of Civil Procedure, so the notional interest addition was deleted. Disallowance under section 14A was confined to expenditure having a proximate nexus with exempt dividend income; on the facts accepted, the larger Rule 8D-based disallowance was not justified, and the restriction to the exempt income was sustained. en-us Fri, 16 Dec 2016 00:00:00 +0530 Tue, 30 Apr 2019 06:04:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280293 Interest on assigned debts pending recovery suit did not accrue for tax until the right to receive it crystallised on decree under section 34 of the Code of Civil Procedure, so the notional interest addition was deleted. Disallowance under section 14A was confined to expenditure having a proximate nexus with exempt dividend income; on the facts accepted, the larger Rule 8D-based disallowance was not justified, and the restriction to the exempt income was sustained. Case-Laws Income Tax Fri, 16 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280293