https://www.taxtmi.com/caselaws?id=394657 The Tribunal partly allowed the appeals regarding disallowance under Section 14A for Assessment Years 2013-14 and 2014-15. For AY 2013-14, the interest disallowance under Rule 8D(2)(ii) was deleted as the assessee's own funds exceeded investments. Direct expenditure was to be added back for computing Book Profits under Section 115JB, with indirect expenditure considered only for investments yielding exempt income. For AY 2014-15, the disallowance was restricted to the extent of exempt income earned by the assessee, with directions to recompute income under normal provisions and Section 115JB in line with the previous year's orders. en-us Mon, 10 Feb 2020 00:00:00 +0530 Mon, 20 Apr 2020 12:51:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394657 The Tribunal partly allowed the appeals regarding disallowance under Section 14A for Assessment Years 2013-14 and 2014-15. For AY 2013-14, the interest disallowance under Rule 8D(2)(ii) was deleted as the assessee's own funds exceeded investments. Direct expenditure was to be added back for computing Book Profits under Section 115JB, with indirect expenditure considered only for investments yielding exempt income. For AY 2014-15, the disallowance was restricted to the extent of exempt income earned by the assessee, with directions to recompute income under normal provisions and Section 115JB in line with the previous year's orders. Case-Laws Income Tax Mon, 10 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394657