https://www.taxtmi.com/caselaws?id=307716 The Tribunal allowed the appeal against the disallowance of expenditure under Section 14A read with Rule 8D for the assessment year 2008-09. The appellant, engaged in manufacturing and trading of edible oil, had investments in mutual funds and shares. The Assessing Officer disallowed the expenditure citing administrative expenses related to the investment portfolio. However, the Tribunal noted that no investigation from borrowed funds was made for investments during the year, and other income did not include dividend income. Emphasizing the need to fulfill Section 14A conditions before applying Rule 8D, the Tribunal ruled in favor of the appellant. en-us Fri, 08 Mar 2013 00:00:00 +0530 Tue, 02 May 2023 10:19:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307716 The Tribunal allowed the appeal against the disallowance of expenditure under Section 14A read with Rule 8D for the assessment year 2008-09. The appellant, engaged in manufacturing and trading of edible oil, had investments in mutual funds and shares. The Assessing Officer disallowed the expenditure citing administrative expenses related to the investment portfolio. However, the Tribunal noted that no investigation from borrowed funds was made for investments during the year, and other income did not include dividend income. Emphasizing the need to fulfill Section 14A conditions before applying Rule 8D, the Tribunal ruled in favor of the appellant. Case-Laws Income Tax Fri, 08 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307716