https://www.taxtmi.com/caselaws?id=794600 Disallowance under section 14A read with Rule 8D was upheld in principle because the Assessing Officer validly recorded dissatisfaction with the assessee's own computation, but the administrative disallowance had to be restricted to investments that actually yielded exempt income and the interest component was remanded for fresh verification of fund sources. The deduction under section 36(1)(viia) was held to operate independently of section 36(1)(viii), so the latter could not first be reduced from the base for the former. The section 36(1)(viia) disallowance was therefore deleted. en-us Wed, 24 Jun 2026 00:00:00 +0530 Wed, 08 Jul 2026 09:08:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794600 Disallowance under section 14A read with Rule 8D was upheld in principle because the Assessing Officer validly recorded dissatisfaction with the assessee's own computation, but the administrative disallowance had to be restricted to investments that actually yielded exempt income and the interest component was remanded for fresh verification of fund sources. The deduction under section 36(1)(viia) was held to operate independently of section 36(1)(viii), so the latter could not first be reduced from the base for the former. The section 36(1)(viia) disallowance was therefore deleted. Case-Laws Income Tax Wed, 24 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794600