https://www.taxtmi.com/caselaws?id=764799 The ITAT Jaipur allowed the assessee's appeal regarding disallowance under section 14A for expenses related to earning exempt income. The tribunal held that since the assessee's shareholder funds and reserves exceeded total equity investments as of March 31, 2018, sufficient own funds were available for investments. Following the precedent in Sintex Industries Ltd, where surplus funds of Rs.1981.55 crores against investments of Rs.144.51 crores negated any disallowance, the tribunal ruled no estimation of expenditure under rule 8D was required. The disallowance of interest and administrative expenses was therefore unjustified. en-us Wed, 08 Jan 2025 00:00:00 +0530 Fri, 17 Jan 2025 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764799 The ITAT Jaipur allowed the assessee's appeal regarding disallowance under section 14A for expenses related to earning exempt income. The tribunal held that since the assessee's shareholder funds and reserves exceeded total equity investments as of March 31, 2018, sufficient own funds were available for investments. Following the precedent in Sintex Industries Ltd, where surplus funds of Rs.1981.55 crores against investments of Rs.144.51 crores negated any disallowance, the tribunal ruled no estimation of expenditure under rule 8D was required. The disallowance of interest and administrative expenses was therefore unjustified. Case-Laws Income Tax Wed, 08 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764799