https://www.taxtmi.com/caselaws?id=790397 Section 14A disallowance must be confined to expenditure relatable to exempt income, and Rule 8D can be applied only on an investment base linked to investments actually yielding such income. A computation that includes the entire investment portfolio is incorrect when it does not distinguish between exempt and taxable income sources. The ITAT therefore held the Assessing Officer's working unsustainable as framed and remanded the matter for fresh computation after identifying the relevant investments and bifurcating dividend and interest income. The assessee obtained partial relief, subject to recomputation under the correct Rule 8D basis. en-us Wed, 08 Apr 2026 00:00:00 +0530 Wed, 22 Apr 2026 18:42:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790397 Section 14A disallowance must be confined to expenditure relatable to exempt income, and Rule 8D can be applied only on an investment base linked to investments actually yielding such income. A computation that includes the entire investment portfolio is incorrect when it does not distinguish between exempt and taxable income sources. The ITAT therefore held the Assessing Officer's working unsustainable as framed and remanded the matter for fresh computation after identifying the relevant investments and bifurcating dividend and interest income. The assessee obtained partial relief, subject to recomputation under the correct Rule 8D basis. Case-Laws Income Tax Wed, 08 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790397