https://www.taxtmi.com/caselaws?id=417778 The Tribunal partly allowed the appeal by deleting the disallowance of interest expenditure under rule 8D(2)(ii) as the assessee had sufficient interest-free funds. The Tribunal directed the assessing officer to recompute the disallowance under rule 8D(2)(iii) based on investments yielding exempt income. Furthermore, the Tribunal allowed the deduction of Employee Stock Option Plan (ESOP) expenses as revenue expenditure, in line with precedent decisions. en-us Thu, 13 Jan 2022 00:00:00 +0530 Tue, 01 Feb 2022 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417778 The Tribunal partly allowed the appeal by deleting the disallowance of interest expenditure under rule 8D(2)(ii) as the assessee had sufficient interest-free funds. The Tribunal directed the assessing officer to recompute the disallowance under rule 8D(2)(iii) based on investments yielding exempt income. Furthermore, the Tribunal allowed the deduction of Employee Stock Option Plan (ESOP) expenses as revenue expenditure, in line with precedent decisions. Case-Laws Income Tax Thu, 13 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417778