https://www.taxtmi.com/caselaws?id=794508 Rule 8D(2)(ii) disallowance under section 14A was to be recomputed by excluding mutual funds and tax-free bonds from the investment base used to determine indirect expenditure relatable to exempt income. The Tribunal accepted the assessee's contention on the computation method, and directed the jurisdictional Assessing Officer to verify the revised figure after giving a reasonable opportunity of hearing. It further clarified that if the recomputed disallowance does not exceed the assessee's suo motu disallowance, no additional disallowance is to be made. en-us Tue, 02 Jun 2026 00:00:00 +0530 Mon, 13 Jul 2026 00:11:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794508 Rule 8D(2)(ii) disallowance under section 14A was to be recomputed by excluding mutual funds and tax-free bonds from the investment base used to determine indirect expenditure relatable to exempt income. The Tribunal accepted the assessee's contention on the computation method, and directed the jurisdictional Assessing Officer to verify the revised figure after giving a reasonable opportunity of hearing. It further clarified that if the recomputed disallowance does not exceed the assessee's suo motu disallowance, no additional disallowance is to be made. Case-Laws Income Tax Tue, 02 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794508