https://www.taxtmi.com/caselaws?id=460902 ITAT Ahmedabad upheld AO's disallowance of administrative expenses under section 14A read with rule 8D, finding that investments yielding dividend income require administrative support involving research, board meetings, and professional services. The tribunal allowed preliminary expenses under section 35D for QIP share issuance, confirmed assessee's eligibility for section 80IA(4) deduction as infrastructure developer applying consistency principle, held net interest income should be excluded from eligible income computation, disallowed head office expense allocation without direct nexus to eligible units, restricted bogus purchase addition to 12.5% of purchase value, and allowed ESOP compensation expenses as legitimate business expenditure under section 37(1). en-us Fri, 24 Feb 2023 00:00:00 +0530 Fri, 28 Feb 2025 20:00:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460902 ITAT Ahmedabad upheld AO's disallowance of administrative expenses under section 14A read with rule 8D, finding that investments yielding dividend income require administrative support involving research, board meetings, and professional services. The tribunal allowed preliminary expenses under section 35D for QIP share issuance, confirmed assessee's eligibility for section 80IA(4) deduction as infrastructure developer applying consistency principle, held net interest income should be excluded from eligible income computation, disallowed head office expense allocation without direct nexus to eligible units, restricted bogus purchase addition to 12.5% of purchase value, and allowed ESOP compensation expenses as legitimate business expenditure under section 37(1). Case-Laws Income Tax Fri, 24 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460902