https://www.taxtmi.com/caselaws?id=467324 Assessee challenges disallowances for interest on related party advances, ad hoc operating expense deductions, and application of disallowance rules for exempt income; Tribunal found no exempt income in the year and set aside any Rule 8D style disallowance, restored interest and expense issues to the assessing officer for de novo adjudication because the assessee was not given adequate opportunity to produce bifurcated supporting evidence, and directed fresh consideration with liberty to file documents. Outcome: exemption linked disallowance rejected for that year; fact intensive issues remitted for re examination with procedural directions to afford hearing and accept evidence. en-us Mon, 10 Oct 2022 00:00:00 +0530 Sat, 14 Mar 2026 18:48:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467324 Assessee challenges disallowances for interest on related party advances, ad hoc operating expense deductions, and application of disallowance rules for exempt income; Tribunal found no exempt income in the year and set aside any Rule 8D style disallowance, restored interest and expense issues to the assessing officer for de novo adjudication because the assessee was not given adequate opportunity to produce bifurcated supporting evidence, and directed fresh consideration with liberty to file documents. Outcome: exemption linked disallowance rejected for that year; fact intensive issues remitted for re examination with procedural directions to afford hearing and accept evidence. Case-Laws Income Tax Mon, 10 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467324