https://www.taxtmi.com/caselaws?id=404462 Section 14A read with Rule 8D was applied restrictively where own funds exceeded investments, so no interest disallowance was warranted and administrative disallowance was limited to investments yielding exempt income; the same restricted amount was directed for book-profit adjustment under section 115JB. ESOP discount was treated as employee compensation cost and allowed as a deduction under section 37(1). Education cess and secondary higher education cess were also treated as deductible expenditure in line with the jurisdictional High Court view. en-us Tue, 23 Feb 2021 00:00:00 +0530 Wed, 24 Feb 2021 09:42:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404462 Section 14A read with Rule 8D was applied restrictively where own funds exceeded investments, so no interest disallowance was warranted and administrative disallowance was limited to investments yielding exempt income; the same restricted amount was directed for book-profit adjustment under section 115JB. ESOP discount was treated as employee compensation cost and allowed as a deduction under section 37(1). Education cess and secondary higher education cess were also treated as deductible expenditure in line with the jurisdictional High Court view. Case-Laws Income Tax Tue, 23 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404462