https://www.taxtmi.com/caselaws?id=432966 Where an assessee has sufficient interest-free own funds to cover investments, and the Revenue does not rebut the finding on source of funds, interest disallowance under Rule 8D(2)(i) is not justified. The first appellate authority may also restrict the administrative expenditure component under section 14A read with Rule 8D on a revised working if the facts support that computation. Applying these settled principles, the Tribunal sustained the restricted disallowance and held that no interest disallowance was warranted on the record. en-us Thu, 05 Jan 2023 00:00:00 +0530 Tue, 17 Jan 2023 09:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432966 Where an assessee has sufficient interest-free own funds to cover investments, and the Revenue does not rebut the finding on source of funds, interest disallowance under Rule 8D(2)(i) is not justified. The first appellate authority may also restrict the administrative expenditure component under section 14A read with Rule 8D on a revised working if the facts support that computation. Applying these settled principles, the Tribunal sustained the restricted disallowance and held that no interest disallowance was warranted on the record. Case-Laws Income Tax Thu, 05 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432966