https://www.taxtmi.com/caselaws?id=471508 Own funds exceeding investments generating exempt income support the presumption that those investments were made from own funds, precluding interest disallowance under Section 14A read with Rule 8D. Indirect-expenditure disallowance under Rule 8D also requires recorded satisfaction that the claim of no such expenditure is incorrect; absent that satisfaction, such disallowance is not sustainable. Contributions to an employees' welfare fund fall within the prohibition under Section 40A(9). Employees' contributions to PF and ESI are treated as disallowable in line with the binding principle in Checkmate Services Pvt. Ltd. en-us Tue, 08 Apr 2025 00:00:00 +0530 Mon, 07 Sep 2026 19:20:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471508 Own funds exceeding investments generating exempt income support the presumption that those investments were made from own funds, precluding interest disallowance under Section 14A read with Rule 8D. Indirect-expenditure disallowance under Rule 8D also requires recorded satisfaction that the claim of no such expenditure is incorrect; absent that satisfaction, such disallowance is not sustainable. Contributions to an employees' welfare fund fall within the prohibition under Section 40A(9). Employees' contributions to PF and ESI are treated as disallowable in line with the binding principle in Checkmate Services Pvt. Ltd. Case-Laws Income Tax Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471508