https://www.taxtmi.com/caselaws?id=785612 Section 14As ambit extends to expenditure incurred in relation to income excluded from total income where the exclusion arises from a partners share of a partnership firm; expenditure with a causal nexus to such exempted share is not deductible, and thus the provision applies notwithstanding a partnership loss. The proportionality of a Rule 8D style disallowance must be tested against the amount excluded from total income, and an excessive aggregated computation can be curtailed to a fair quantified figure. A disallowance computed for exempt income should not be imported into the computation of book profit for MAT purposes. en-us Tue, 16 Dec 2025 00:00:00 +0530 Wed, 28 Jan 2026 07:26:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785612 Section 14As ambit extends to expenditure incurred in relation to income excluded from total income where the exclusion arises from a partners share of a partnership firm; expenditure with a causal nexus to such exempted share is not deductible, and thus the provision applies notwithstanding a partnership loss. The proportionality of a Rule 8D style disallowance must be tested against the amount excluded from total income, and an excessive aggregated computation can be curtailed to a fair quantified figure. A disallowance computed for exempt income should not be imported into the computation of book profit for MAT purposes. Case-Laws Income Tax Tue, 16 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785612