https://www.taxtmi.com/caselaws?id=792828 A section 14A disallowance computed under Rule 8D was held excessive where the assessee had substantial mutual fund transactions and associated investment activity, but exempt income was limited. Some expenditure attributable to earning exempt income could be inferred, yet the disallowance had to remain proportionate to the income generated. On those facts, the original disallowance was restricted to 10% of the amount made, and the assessee obtained relief to that extent. en-us Fri, 15 May 2026 00:00:00 +0530 Thu, 04 Jun 2026 08:37:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792828 A section 14A disallowance computed under Rule 8D was held excessive where the assessee had substantial mutual fund transactions and associated investment activity, but exempt income was limited. Some expenditure attributable to earning exempt income could be inferred, yet the disallowance had to remain proportionate to the income generated. On those facts, the original disallowance was restricted to 10% of the amount made, and the assessee obtained relief to that extent. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792828