https://www.taxtmi.com/caselaws?id=468761 Section 14A read with Rule 8D cannot be applied mechanically where the assessee claims that investments in sister concerns were made from its own non-interest bearing funds and the record contains no finding on any cost attributable to earning exempt income. On those facts, the disallowance could not be sustained without proper factual examination. The ITAT therefore set aside the disallowance and remitted the matter to the Assessing Officer for fresh consideration. en-us Wed, 14 Feb 2018 00:00:00 +0530 Wed, 20 May 2026 11:16:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468761 Section 14A read with Rule 8D cannot be applied mechanically where the assessee claims that investments in sister concerns were made from its own non-interest bearing funds and the record contains no finding on any cost attributable to earning exempt income. On those facts, the disallowance could not be sustained without proper factual examination. The ITAT therefore set aside the disallowance and remitted the matter to the Assessing Officer for fresh consideration. Case-Laws Income Tax Wed, 14 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468761