https://www.taxtmi.com/caselaws?id=471491 Interest expenditure relating to exempt-income investments is not disallowable where interest-free own funds exceed those investments, since the investments are presumed to have been made from such funds. Administrative expenditure exceeding an assessee's voluntary disallowance cannot be computed under Rule 8D unless the Assessing Officer examines the accounts and records dissatisfaction with the assessee's claim. Closing-stock valuation requires fresh determination under section 145A after examining the accounting method and valuation discrepancies. Expenditure on guest houses and employee residential flats requires factual examination of its nature, supporting records and business nexus before a reasoned disallowance can be made. en-us Wed, 03 Feb 2016 00:00:00 +0530 Sat, 05 Sep 2026 21:31:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471491 Interest expenditure relating to exempt-income investments is not disallowable where interest-free own funds exceed those investments, since the investments are presumed to have been made from such funds. Administrative expenditure exceeding an assessee's voluntary disallowance cannot be computed under Rule 8D unless the Assessing Officer examines the accounts and records dissatisfaction with the assessee's claim. Closing-stock valuation requires fresh determination under section 145A after examining the accounting method and valuation discrepancies. Expenditure on guest houses and employee residential flats requires factual examination of its nature, supporting records and business nexus before a reasoned disallowance can be made. Case-Laws Income Tax Wed, 03 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471491