https://www.taxtmi.com/caselaws?id=468093 ITAT Ahmedabad held that no disallowance under Section 14A read with Rule 8D was warranted on the facts, as exempt income was earned but no specific expenditure attributable to such income was established; the Assessing Officer's computation was deleted. It further held that, for completed or unabated assessments under Section 153A, additions can be sustained only on the basis of incriminating material seized during the search. As the additions for unexplained income, unsecured loans and related interest were not founded on seized incriminating documents, they could not be sustained. The assessee succeeded on the Section 14A issue and the revenue's additions failed. en-us Fri, 14 Feb 2025 00:00:00 +0530 Wed, 15 Apr 2026 13:33:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468093 ITAT Ahmedabad held that no disallowance under Section 14A read with Rule 8D was warranted on the facts, as exempt income was earned but no specific expenditure attributable to such income was established; the Assessing Officer's computation was deleted. It further held that, for completed or unabated assessments under Section 153A, additions can be sustained only on the basis of incriminating material seized during the search. As the additions for unexplained income, unsecured loans and related interest were not founded on seized incriminating documents, they could not be sustained. The assessee succeeded on the Section 14A issue and the revenue's additions failed. Case-Laws Income Tax Fri, 14 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468093