https://www.taxtmi.com/caselaws?id=463512 ITAT MUMBAI held that for computing disallowance u/s 14A under Rule 8D(2)(iii) only investments that yielded exempt income during the year are to be considered. The assessee earned share of profit from two partnership firms; recalculation produced a disallowance of Rs. 19,54,691. After accounting for the assessee's suo moto disallowance of Rs. 5,13,698, a balance of Rs. 14,40,993 is to be added to income in place of the AO's addition of Rs. 33,68,410. Grounds are partly allowed. en-us Thu, 24 Jul 2025 00:00:00 +0530 Thu, 04 Sep 2025 19:12:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463512 ITAT MUMBAI held that for computing disallowance u/s 14A under Rule 8D(2)(iii) only investments that yielded exempt income during the year are to be considered. The assessee earned share of profit from two partnership firms; recalculation produced a disallowance of Rs. 19,54,691. After accounting for the assessee's suo moto disallowance of Rs. 5,13,698, a balance of Rs. 14,40,993 is to be added to income in place of the AO's addition of Rs. 33,68,410. Grounds are partly allowed. Case-Laws Income Tax Thu, 24 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463512