https://www.taxtmi.com/caselaws?id=296315 The ITAT upheld the disallowance u/s 14A, emphasizing Rule 8D's applicability to attribute administrative expenses to exempt income. The ITAT allowed the assessee's appeal regarding the disallowance on the value of tools, accepting the method applied for years. The ITAT overturned the disallowance of interest on loans to sister concerns, citing no nexus between interest-bearing funds and interest-free advances. Regarding design charges, the ITAT directed verification of expenses and remanded the case for further determination. The ITAT affirmed the CIT(A)'s decision to allow property tax u/s 43B, considering the liability certain. en-us Fri, 21 Dec 2012 00:00:00 +0530 Wed, 14 Jul 2021 14:47:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296315 The ITAT upheld the disallowance u/s 14A, emphasizing Rule 8D's applicability to attribute administrative expenses to exempt income. The ITAT allowed the assessee's appeal regarding the disallowance on the value of tools, accepting the method applied for years. The ITAT overturned the disallowance of interest on loans to sister concerns, citing no nexus between interest-bearing funds and interest-free advances. Regarding design charges, the ITAT directed verification of expenses and remanded the case for further determination. The ITAT affirmed the CIT(A)'s decision to allow property tax u/s 43B, considering the liability certain. Case-Laws Income Tax Fri, 21 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296315