https://www.taxtmi.com/caselaws?id=465719 Where no exempt income is earned in the relevant year, s.14A cannot be invoked to disallow expenditure, and r.8D is inapplicable because it operates only to quantify expenditure relatable to exempt income when such income exists but attribution is difficult; the s.14A disallowance was deleted. Interest paid for late remittance of TDS is not "interest on income-tax" but compensatory in nature and not penal, hence not hit by disallowance provisions; the deletion of the addition was upheld and the revenue's ground was dismissed. ROC filing fees are not allowable as revenue expenditure and are not deductible under s.35D in view of HC precedent; the disallowance was sustained. Overall, the appeal was allowed to the extent indicated. en-us Wed, 30 Jan 2019 00:00:00 +0530 Tue, 06 Jan 2026 22:17:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465719 Where no exempt income is earned in the relevant year, s.14A cannot be invoked to disallow expenditure, and r.8D is inapplicable because it operates only to quantify expenditure relatable to exempt income when such income exists but attribution is difficult; the s.14A disallowance was deleted. Interest paid for late remittance of TDS is not "interest on income-tax" but compensatory in nature and not penal, hence not hit by disallowance provisions; the deletion of the addition was upheld and the revenue's ground was dismissed. ROC filing fees are not allowable as revenue expenditure and are not deductible under s.35D in view of HC precedent; the disallowance was sustained. Overall, the appeal was allowed to the extent indicated. Case-Laws Income Tax Wed, 30 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465719