https://www.taxtmi.com/caselaws?id=426622 Strategic investments are not excluded when computing disallowance under section 14A read with Rule 8D, so the disallowance was revised to that extent, while the directions on surplus funds remained unchanged. A share sale in a promoter-exit context was not treated as a colourable device because the higher benchmark sale price was not shown to reflect the actual consideration, and the addition was deleted. A buy-back of shares carried out under the applicable corporate restructuring and valuation framework was likewise not regarded as a colourable device, so the related capital loss disallowance was not sustained. en-us Wed, 17 Aug 2022 00:00:00 +0530 Sat, 20 Aug 2022 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426622 Strategic investments are not excluded when computing disallowance under section 14A read with Rule 8D, so the disallowance was revised to that extent, while the directions on surplus funds remained unchanged. A share sale in a promoter-exit context was not treated as a colourable device because the higher benchmark sale price was not shown to reflect the actual consideration, and the addition was deleted. A buy-back of shares carried out under the applicable corporate restructuring and valuation framework was likewise not regarded as a colourable device, so the related capital loss disallowance was not sustained. Case-Laws Income Tax Wed, 17 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426622