https://www.taxtmi.com/caselaws?id=401409 The ITAT restricted the disallowance under section 14A r.w.r 8D to the amount of exempt income earned by the assessee, disallowing only Rs. 1,302 instead of the initial Rs. 2,03,746. It allowed the salary paid to office Peons but disallowed a portion of excessive payment to the florist. The conveyance expenses disallowance was reduced from 25% to 10% of the claimed amount, and the entertainment expenses disallowance was reduced from 20% to 10%. The appeal was partly allowed based on specific issues, with the general ground being dismissed. en-us Tue, 13 Oct 2020 00:00:00 +0530 Mon, 07 Dec 2020 10:08:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401409 The ITAT restricted the disallowance under section 14A r.w.r 8D to the amount of exempt income earned by the assessee, disallowing only Rs. 1,302 instead of the initial Rs. 2,03,746. It allowed the salary paid to office Peons but disallowed a portion of excessive payment to the florist. The conveyance expenses disallowance was reduced from 25% to 10% of the claimed amount, and the entertainment expenses disallowance was reduced from 20% to 10%. The appeal was partly allowed based on specific issues, with the general ground being dismissed. Case-Laws Income Tax Tue, 13 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401409