https://www.taxtmi.com/caselaws?id=450072 The ITAT Delhi upheld the AO's disallowance under section 14A read with Rule 8D for interest expenditure related to exempt dividend income, rejecting the assessee's argument that strategic investments in subsidiaries should be exempt from these provisions. The Tribunal directed recomputation of disallowance under Rule 8D(2)(iii) to consider only investments generating exempt income during the year. The depreciation disallowance on leasehold property was remanded to the AO for fresh adjudication to determine the true nature of lease premium payments. The TDS disallowance under section 40(a)(ia) for custody and listing fees was deleted following Supreme Court precedent in Kotak Securities. The disallowance for delayed PF/ESI contributions was upheld following Checkmate Services precedent. en-us Wed, 21 Feb 2024 00:00:00 +0530 Mon, 26 Feb 2024 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450072 The ITAT Delhi upheld the AO's disallowance under section 14A read with Rule 8D for interest expenditure related to exempt dividend income, rejecting the assessee's argument that strategic investments in subsidiaries should be exempt from these provisions. The Tribunal directed recomputation of disallowance under Rule 8D(2)(iii) to consider only investments generating exempt income during the year. The depreciation disallowance on leasehold property was remanded to the AO for fresh adjudication to determine the true nature of lease premium payments. The TDS disallowance under section 40(a)(ia) for custody and listing fees was deleted following Supreme Court precedent in Kotak Securities. The disallowance for delayed PF/ESI contributions was upheld following Checkmate Services precedent. Case-Laws Income Tax Wed, 21 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450072