https://www.taxtmi.com/caselaws?id=794154 Section 14A permits disallowance of expenditure related to exempt income, but Rule 8D may be invoked only after the Assessing Officer examines the accounts and records reasoned dissatisfaction with the assessee's claim. Rejection for alleged lack of evidence, without identifying missing material, examining fund-flow or cash-flow statements, or linking borrowed funds or specific expenditure to exempt dividend income, does not meet this statutory condition. Any Rule 8D disallowance exceeding the assessee's voluntary disallowance is therefore unsustainable where such recorded satisfaction is absent. en-us Thu, 25 Jun 2026 00:00:00 +0530 Wed, 01 Jul 2026 08:47:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794154 Section 14A permits disallowance of expenditure related to exempt income, but Rule 8D may be invoked only after the Assessing Officer examines the accounts and records reasoned dissatisfaction with the assessee's claim. Rejection for alleged lack of evidence, without identifying missing material, examining fund-flow or cash-flow statements, or linking borrowed funds or specific expenditure to exempt dividend income, does not meet this statutory condition. Any Rule 8D disallowance exceeding the assessee's voluntary disallowance is therefore unsustainable where such recorded satisfaction is absent. Case-Laws Income Tax Thu, 25 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794154