https://www.taxtmi.com/caselaws?id=470197 Disallowance of exempt-income expenditure requires application of the own-funds presumption where own funds exceed investments, excluding interest disallowance while permitting verification-based administrative expense disallowance limited to investments generating exempt income. Approved in-house research facilities qualify for weighted research deduction without expenditure certification for the relevant year. Deduction for an eligible undertaking requires allocation only of common expenses attributable to that undertaking. Opening stock may require corresponding adjustment where the preceding year's closing stock was altered, subject to verification. Education cess is not deductible following the Finance Act, 2022 amendment. Rental receipts are taxable as income from house property, while service charges are taxable as income from other sources. en-us Fri, 25 Nov 2022 00:00:00 +0530 Mon, 20 Jul 2026 11:06:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470197 Disallowance of exempt-income expenditure requires application of the own-funds presumption where own funds exceed investments, excluding interest disallowance while permitting verification-based administrative expense disallowance limited to investments generating exempt income. Approved in-house research facilities qualify for weighted research deduction without expenditure certification for the relevant year. Deduction for an eligible undertaking requires allocation only of common expenses attributable to that undertaking. Opening stock may require corresponding adjustment where the preceding year's closing stock was altered, subject to verification. Education cess is not deductible following the Finance Act, 2022 amendment. Rental receipts are taxable as income from house property, while service charges are taxable as income from other sources. Case-Laws Income Tax Fri, 25 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470197