https://www.taxtmi.com/caselaws?id=792972 No disallowance under section 14A read with Rule 8D was made because no exempt income was earned, and the Finance Act, 2022 amendment was treated as prospective. The write-off of security deposits and waiver of interest receivable were allowed as business loss or revenue expenditure where the losses arose in the course of business. Notional interest on interest-free advances to subsidiaries was deleted because hypothetical income cannot be taxed without a proper statutory basis. The write-off relating to fixed assets was disallowed since the relevant assets remained in an existing block and a separate deduction would create a double deduction. The gratuity-related issue was sent back for factual verification. en-us Mon, 25 May 2026 00:00:00 +0530 Fri, 05 Jun 2026 12:15:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792972 No disallowance under section 14A read with Rule 8D was made because no exempt income was earned, and the Finance Act, 2022 amendment was treated as prospective. The write-off of security deposits and waiver of interest receivable were allowed as business loss or revenue expenditure where the losses arose in the course of business. Notional interest on interest-free advances to subsidiaries was deleted because hypothetical income cannot be taxed without a proper statutory basis. The write-off relating to fixed assets was disallowed since the relevant assets remained in an existing block and a separate deduction would create a double deduction. The gratuity-related issue was sent back for factual verification. Case-Laws Income Tax Mon, 25 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792972