https://www.taxtmi.com/caselaws?id=381159 The Tribunal allowed both appeals, ruling in favor of the assessee regarding the disallowance for administrative expenses under section 14A of the Income Tax Act for the assessment years 2013-14 and 2014-15. The Tribunal held that Rule 8D(2)(iii) should not be applied for disallowance of administrative expenditure related to exempt income from mutual funds due to the unique nature of mutual fund investments where administrative expenses are inherent in the investments themselves. The Tribunal found the Assessing Officer's computation excessive and ruled that no further disallowance was warranted beyond the assessee's voluntary disallowance, thereby vacating the disallowance under section 14A. en-us Wed, 29 May 2019 00:00:00 +0530 Wed, 05 Jun 2019 09:30:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381159 The Tribunal allowed both appeals, ruling in favor of the assessee regarding the disallowance for administrative expenses under section 14A of the Income Tax Act for the assessment years 2013-14 and 2014-15. The Tribunal held that Rule 8D(2)(iii) should not be applied for disallowance of administrative expenditure related to exempt income from mutual funds due to the unique nature of mutual fund investments where administrative expenses are inherent in the investments themselves. The Tribunal found the Assessing Officer's computation excessive and ruled that no further disallowance was warranted beyond the assessee's voluntary disallowance, thereby vacating the disallowance under section 14A. Case-Laws Income Tax Wed, 29 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381159