https://www.taxtmi.com/caselaws?id=466643 Disallowance under Rule 8D was held not finally adjudicated because the AO applied Rule 8D against total investments without verification whether own funds exceeded investments yielding exempt income; the matter is remitted to the AO to verify availability of own funds, classify investments that actually produced exempt income, and recompute any Rule 8D disallowance. The subsidy treatment was also remitted because receipt, utilisation and supporting MoU records were not satisfactorily examined; the AO is directed to ascertain receipt in the relevant year, examine books and prescribed records, and quantify any disallowance with reasons. en-us Wed, 28 Jul 2021 00:00:00 +0530 Sat, 14 Feb 2026 20:05:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466643 Disallowance under Rule 8D was held not finally adjudicated because the AO applied Rule 8D against total investments without verification whether own funds exceeded investments yielding exempt income; the matter is remitted to the AO to verify availability of own funds, classify investments that actually produced exempt income, and recompute any Rule 8D disallowance. The subsidy treatment was also remitted because receipt, utilisation and supporting MoU records were not satisfactorily examined; the AO is directed to ascertain receipt in the relevant year, examine books and prescribed records, and quantify any disallowance with reasons. Case-Laws Income Tax Wed, 28 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466643