https://www.taxtmi.com/caselaws?id=465539 Disallowance under s.14A r/w Rule 8D was disputed on the ground that the relevant investments yielding exempt income were old and potentially made out of surplus funds. The Tribunal held that, on the record, it could not verify the year of investments or whether they were funded from surplus, and that such factual verification was material to applying s.14A, consistent with its earlier decision in a comparable case. The appellate order was set aside and the matter remitted to the AO to re-examine the investments and funding source; if investments were from earlier-year surplus, no s.14A disallowance would lie, otherwise the AO was to decide as per law. en-us Mon, 03 Aug 2015 00:00:00 +0530 Tue, 30 Dec 2025 10:50:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465539 Disallowance under s.14A r/w Rule 8D was disputed on the ground that the relevant investments yielding exempt income were old and potentially made out of surplus funds. The Tribunal held that, on the record, it could not verify the year of investments or whether they were funded from surplus, and that such factual verification was material to applying s.14A, consistent with its earlier decision in a comparable case. The appellate order was set aside and the matter remitted to the AO to re-examine the investments and funding source; if investments were from earlier-year surplus, no s.14A disallowance would lie, otherwise the AO was to decide as per law. Case-Laws Income Tax Mon, 03 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465539