https://www.taxtmi.com/caselaws?id=470079 Section 14A read with rule 8D does not permit expenditure disallowance where no exempt income is earned. Keyman Insurance premiums for directors may qualify as business expenditure rather than personal insurance costs. Interest paid to a supplier under agreed trade terms for delayed raw-material payments is not disallowable under section 40A(2)(b) if the supplier is not a covered associated concern and supporting material remains unrebutted. Where sufficient interest-free funds exceed a construction advance, the advance is presumed to be funded from those sources, so interest need not be disallowed or capitalised under section 36(1)(iii). en-us Thu, 24 Jan 2019 00:00:00 +0530 Wed, 15 Jul 2026 10:37:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470079 Section 14A read with rule 8D does not permit expenditure disallowance where no exempt income is earned. Keyman Insurance premiums for directors may qualify as business expenditure rather than personal insurance costs. Interest paid to a supplier under agreed trade terms for delayed raw-material payments is not disallowable under section 40A(2)(b) if the supplier is not a covered associated concern and supporting material remains unrebutted. Where sufficient interest-free funds exceed a construction advance, the advance is presumed to be funded from those sources, so interest need not be disallowed or capitalised under section 36(1)(iii). Case-Laws Income Tax Thu, 24 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470079