https://www.taxtmi.com/caselaws?id=413775 The Tribunal allowed the appeal in part, deleting the disallowance under section 14A and the adhoc disallowance of labor/assortment charges. The disallowance of interest under rule 8D(2)(ii) was deemed unsustainable as no exempt income was earned, and the appellant's own funds exceeded investments. The adhoc disallowance of labor/assortment charges was overturned due to proper explanations and evidence provided, with the Tribunal finding no rejection of books of accounts or adverse audit findings. en-us Fri, 01 Oct 2021 00:00:00 +0530 Wed, 20 Oct 2021 09:11:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413775 The Tribunal allowed the appeal in part, deleting the disallowance under section 14A and the adhoc disallowance of labor/assortment charges. The disallowance of interest under rule 8D(2)(ii) was deemed unsustainable as no exempt income was earned, and the appellant's own funds exceeded investments. The adhoc disallowance of labor/assortment charges was overturned due to proper explanations and evidence provided, with the Tribunal finding no rejection of books of accounts or adverse audit findings. Case-Laws Income Tax Fri, 01 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413775