https://www.taxtmi.com/caselaws?id=385526 The tribunal partly allowed all appeals, directing the Assessing Officer to decide in line with specific directions given. The disallowance of expenditure under section 14A was upheld, considering investments made from shareholder's funds for business expediency. The tribunal directed recalculating disallowance under rule 8D, excluding interest on secured loans solely for business. It emphasized excluding investments not generating income from disallowance calculation and following guidelines from a previous case for consistency. The claim of investments for business expediency was dismissed, ensuring a fair and consistent approach in similar cases. en-us Fri, 09 Aug 2019 00:00:00 +0530 Fri, 06 Sep 2019 17:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385526 The tribunal partly allowed all appeals, directing the Assessing Officer to decide in line with specific directions given. The disallowance of expenditure under section 14A was upheld, considering investments made from shareholder's funds for business expediency. The tribunal directed recalculating disallowance under rule 8D, excluding interest on secured loans solely for business. It emphasized excluding investments not generating income from disallowance calculation and following guidelines from a previous case for consistency. The claim of investments for business expediency was dismissed, ensuring a fair and consistent approach in similar cases. Case-Laws Income Tax Fri, 09 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385526