https://www.taxtmi.com/caselaws?id=383797 The Appellate Tribunal allowed the cross objection of the assessee, setting aside the order of the CIT(A) sustaining the disallowance of administrative expenses under section 14A of the Act. The Tribunal held that separate disallowances for administrative expenses were not warranted when tax-free income arose from mutual funds, as expert supervision with administrative and managerial expenses was already factored into such investments. Consequently, the disallowance of Rs. 10,81,692 towards administrative expenses was deleted, aligning with the statutory formula for estimation of disallowance under Rule 8D(2)(iii) and emphasizing the reasonableness of disallowances under section 14A. en-us Mon, 29 Jul 2019 00:00:00 +0530 Tue, 30 Jul 2019 18:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383797 The Appellate Tribunal allowed the cross objection of the assessee, setting aside the order of the CIT(A) sustaining the disallowance of administrative expenses under section 14A of the Act. The Tribunal held that separate disallowances for administrative expenses were not warranted when tax-free income arose from mutual funds, as expert supervision with administrative and managerial expenses was already factored into such investments. Consequently, the disallowance of Rs. 10,81,692 towards administrative expenses was deleted, aligning with the statutory formula for estimation of disallowance under Rule 8D(2)(iii) and emphasizing the reasonableness of disallowances under section 14A. Case-Laws Income Tax Mon, 29 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383797