https://www.taxtmi.com/highlights?id=63915 Addition u/s 14A r.w.r. 8D - There is no such provision in the statute that no disallowance of expenditure could be made on investments made in the earlier years. Admittedly, the exempt income was earned on the investments made in the earlier years and the exempt income was earned in the year under consideration. Therefore, the disallowance made by the AO which was confirmed by the CIT(A) under Rule 8D(2)(iii) is justified. - AT en-us Tue, 07 Jun 2022 08:37:53 +0530 Tue, 07 Jun 2022 08:37:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=63915 Addition u/s 14A r.w.r. 8D - There is no such provision in the statute that no disallowance of expenditure could be made on investments made in the earlier years. Admittedly, the exempt income was earned on the investments made in the earlier years and the exempt income was earned in the year under consideration. Therefore, the disallowance made by the AO which was confirmed by the CIT(A) under Rule 8D(2)(iii) is justified. - AT Highlights Income Tax Tue, 07 Jun 2022 08:37:53 +0530 https://www.taxtmi.com/highlights?id=63915