https://www.taxtmi.com/caselaws?id=786011 Disallowance for expenditure relating to exempt income must be computed only with reference to dividend-yielding investments; accordingly the additional disallowance under the rule 8D formula was deleted. ESOP-related expenditure is deductible as held in precedent, and an appellate authority may admit additional claims for medical reimbursement and travel allowance even if not declared in the return. A rectification seeking to reopen assessment after settlement under the DTVSV scheme cannot be entertained; settlement yields finality. Disallowance under the exempt-income rule need not be restored when computing book profits for minimum tax purposes. The amendment to the exempt-income provision is not to be treated as retrospective. en-us Wed, 28 Jan 2026 00:00:00 +0530 Wed, 04 Feb 2026 08:24:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786011 Disallowance for expenditure relating to exempt income must be computed only with reference to dividend-yielding investments; accordingly the additional disallowance under the rule 8D formula was deleted. ESOP-related expenditure is deductible as held in precedent, and an appellate authority may admit additional claims for medical reimbursement and travel allowance even if not declared in the return. A rectification seeking to reopen assessment after settlement under the DTVSV scheme cannot be entertained; settlement yields finality. Disallowance under the exempt-income rule need not be restored when computing book profits for minimum tax purposes. The amendment to the exempt-income provision is not to be treated as retrospective. Case-Laws Income Tax Wed, 28 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786011