https://www.taxtmi.com/caselaws?id=466603 Disallowance of expenses attributable to exempt income under Section 14A and Rule 8D(2) was not finally determined; the Tribunal held that factual verification was necessary to ascertain whether the assessee had own or mixed funds financing exempt investments and whether the AO used the correct investment base for computing interest and other disallowances. Because relevant financial statements and fund records were available and identical issues arose in a connected year, the matter is remitted to the Assessing Officer for verification and recomputation of disallowance under Rule 8D(2)(ii) and Rule 8D(2)(iii). en-us Wed, 05 Jul 2023 00:00:00 +0530 Fri, 13 Feb 2026 19:07:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466603 Disallowance of expenses attributable to exempt income under Section 14A and Rule 8D(2) was not finally determined; the Tribunal held that factual verification was necessary to ascertain whether the assessee had own or mixed funds financing exempt investments and whether the AO used the correct investment base for computing interest and other disallowances. Because relevant financial statements and fund records were available and identical issues arose in a connected year, the matter is remitted to the Assessing Officer for verification and recomputation of disallowance under Rule 8D(2)(ii) and Rule 8D(2)(iii). Case-Laws Income Tax Wed, 05 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466603