https://www.taxtmi.com/caselaws?id=413817 Where an assessee's own funds exceeded the investments, no interest disallowance under section 14A read with rule 8D was warranted, and the computation had to be confined to investments yielding exempt income. Lease line and transaction charges paid to the stock exchange were treated as facility charges, not fees for technical services, so no tax was deductible under section 194J and the section 40(a)(ia) disallowance failed. For BSE shares allotted on corporatisation or demutualisation, the original membership card cost and the pre-corporatisation holding period governed capital gains indexation and holding period. Sub-brokerage disallowance also failed on the record, while the section 88E rebate issue was remanded for fresh computation. en-us Fri, 08 Oct 2021 00:00:00 +0530 Wed, 20 Oct 2021 10:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413817 Where an assessee's own funds exceeded the investments, no interest disallowance under section 14A read with rule 8D was warranted, and the computation had to be confined to investments yielding exempt income. Lease line and transaction charges paid to the stock exchange were treated as facility charges, not fees for technical services, so no tax was deductible under section 194J and the section 40(a)(ia) disallowance failed. For BSE shares allotted on corporatisation or demutualisation, the original membership card cost and the pre-corporatisation holding period governed capital gains indexation and holding period. Sub-brokerage disallowance also failed on the record, while the section 88E rebate issue was remanded for fresh computation. Case-Laws Income Tax Fri, 08 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413817