https://www.taxtmi.com/caselaws?id=463837 ITAT MUMBAI upheld the AO's invocation of rule 8D and sustained a disallowance under s.14A in part, but remitted multiple issues to the AO/CIT(A) for fresh verification: availability of interest-free funds, apportionment of expenses for securities held as stock-in-trade per SC authority (apportion taxable v. exempt income), restriction to securities yielding exempt income, treatment of HTM interest and brokerage (stock-in-trade v. investment), verification of QIP/public-subscription for s.35D, computation of interest under ss.234A/234D, and broken-period interest. Disallowance of interest on IPDI under s.36(1)(iii) was deleted. PTC investments were held includible for s.14A disallowance. en-us Mon, 05 Feb 2024 00:00:00 +0530 Thu, 11 Sep 2025 18:06:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463837 ITAT MUMBAI upheld the AO's invocation of rule 8D and sustained a disallowance under s.14A in part, but remitted multiple issues to the AO/CIT(A) for fresh verification: availability of interest-free funds, apportionment of expenses for securities held as stock-in-trade per SC authority (apportion taxable v. exempt income), restriction to securities yielding exempt income, treatment of HTM interest and brokerage (stock-in-trade v. investment), verification of QIP/public-subscription for s.35D, computation of interest under ss.234A/234D, and broken-period interest. Disallowance of interest on IPDI under s.36(1)(iii) was deleted. PTC investments were held includible for s.14A disallowance. Case-Laws Income Tax Mon, 05 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463837