https://www.taxtmi.com/caselaws?id=406209 The Tribunal allowed the appeal for condonation of delay in filing the appeal and admitted it for adjudication. Regarding the disallowance under Section 14A r.w. Rule 8D, the Tribunal upheld a disallowance of Rs. 5,88,840 under Rule 8D(2)(iii) for administrative expenses but remanded the issue of disallowance of Rs. 20,28,830 under Rule 8D(2)(ii) for fresh consideration. The Tribunal emphasized the need for the assessee to prove the availability of interest-free funds for investments made and directed reassessment by the Assessing Officer based on proper evidence. en-us Wed, 10 Feb 2021 00:00:00 +0530 Fri, 09 Apr 2021 07:57:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406209 The Tribunal allowed the appeal for condonation of delay in filing the appeal and admitted it for adjudication. Regarding the disallowance under Section 14A r.w. Rule 8D, the Tribunal upheld a disallowance of Rs. 5,88,840 under Rule 8D(2)(iii) for administrative expenses but remanded the issue of disallowance of Rs. 20,28,830 under Rule 8D(2)(ii) for fresh consideration. The Tribunal emphasized the need for the assessee to prove the availability of interest-free funds for investments made and directed reassessment by the Assessing Officer based on proper evidence. Case-Laws Income Tax Wed, 10 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406209