https://www.taxtmi.com/caselaws?id=778635 ITAT Pune (AT) held that disallowance under s.14A is to be restricted to the extent of exempt income (dividends) earned during the year, following the tribunal's earlier decision in the assessee's own case. Claims for car depreciation and related expenses were allowed despite vehicles being registered in directors' names, since the cars appeared in the balance sheet as fixed assets and depreciation had been consistently claimed, indicating business use. en-us Fri, 12 Sep 2025 00:00:00 +0530 Fri, 19 Sep 2025 08:33:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778635 ITAT Pune (AT) held that disallowance under s.14A is to be restricted to the extent of exempt income (dividends) earned during the year, following the tribunal's earlier decision in the assessee's own case. Claims for car depreciation and related expenses were allowed despite vehicles being registered in directors' names, since the cars appeared in the balance sheet as fixed assets and depreciation had been consistently claimed, indicating business use. Case-Laws Income Tax Fri, 12 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778635