https://www.taxtmi.com/caselaws?id=460955 ITAT Ahmedabad upheld partial disallowance under Section 14A r.w. Rule 8D for administrative expenses related to exempt income, as assessee failed to maintain separate accounts and substantiate allocation basis, while deleting interest disallowance due to sufficient interest-free funds. The tribunal allowed product registration expenses as revenue expenditure since registration was mandatory for overseas sales. Stock valuation differences were accepted as legitimate accounting standard variations. Section 80IC deduction for Baddi unit was allowed on entire business profits, rejecting artificial segregation into manufacturing, marketing, and brand components. en-us Mon, 27 Aug 2018 00:00:00 +0530 Tue, 04 Mar 2025 09:11:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460955 ITAT Ahmedabad upheld partial disallowance under Section 14A r.w. Rule 8D for administrative expenses related to exempt income, as assessee failed to maintain separate accounts and substantiate allocation basis, while deleting interest disallowance due to sufficient interest-free funds. The tribunal allowed product registration expenses as revenue expenditure since registration was mandatory for overseas sales. Stock valuation differences were accepted as legitimate accounting standard variations. Section 80IC deduction for Baddi unit was allowed on entire business profits, rejecting artificial segregation into manufacturing, marketing, and brand components. Case-Laws Income Tax Mon, 27 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460955