https://www.taxtmi.com/caselaws?id=794456 Disallowance under section 14A was discussed as being capped at the amount of exempt income, reflecting the view followed by the Tribunal and the jurisdictional High Court, despite reliance on Rule 8D and a CBDT circular. The article also explains transfer pricing comparability principles: a comparable must be functionally similar and supported by reliable year-specific public information. On that basis, Axis Integrated Systems Limited and Inmacs Management Services Limited were treated as unsuitable comparables because their business profiles and available data did not show dependable functional similarity with management support services. en-us Mon, 08 Jun 2026 00:00:00 +0530 Mon, 06 Jul 2026 08:26:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794456 Disallowance under section 14A was discussed as being capped at the amount of exempt income, reflecting the view followed by the Tribunal and the jurisdictional High Court, despite reliance on Rule 8D and a CBDT circular. The article also explains transfer pricing comparability principles: a comparable must be functionally similar and supported by reliable year-specific public information. On that basis, Axis Integrated Systems Limited and Inmacs Management Services Limited were treated as unsuitable comparables because their business profiles and available data did not show dependable functional similarity with management support services. Case-Laws Income Tax Mon, 08 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794456