https://www.taxtmi.com/highlights?id=55630 Disallowance u/s 14A read with Rule 8D - In any case, as per section 14A(3) whether or not the assessee has incurred any expenditure for earning exempt income, a part of the expenditure has to be attributed towards earning of exempt income - assessee has not been able to establish on record that no expenditure is attributable towards earning of exempt income. Therefore, in our considered opinion, disallowance of administrative expenditure has to be made under Rule 8D(2)(iii) of the Act. - AT en-us Wed, 25 Nov 2020 09:58:02 +0530 Wed, 25 Nov 2020 09:58:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55630 Disallowance u/s 14A read with Rule 8D - In any case, as per section 14A(3) whether or not the assessee has incurred any expenditure for earning exempt income, a part of the expenditure has to be attributed towards earning of exempt income - assessee has not been able to establish on record that no expenditure is attributable towards earning of exempt income. Therefore, in our considered opinion, disallowance of administrative expenditure has to be made under Rule 8D(2)(iii) of the Act. - AT Highlights Income Tax Wed, 25 Nov 2020 09:58:02 +0530 https://www.taxtmi.com/highlights?id=55630