https://www.taxtmi.com/caselaws?id=471582 Section 14A disallowance does not extend to interest expenditure where the taxpayer's own non-interest-bearing funds exceed investments. Rule 8D indirect-expenditure computation is confined to investments that generated exempt income during the relevant year. The Finance Act 2022 amendment to section 14A applies from 1 April 2022 and does not operate retrospectively for earlier assessment years. For minimum alternate tax purposes, the section 14A and Rule 8D computation mechanism cannot be imported into the adjustment under clause (f) of Explanation 1 to section 115JB(2). Accordingly, such disallowance cannot be added to book profit on that basis. en-us Mon, 07 Apr 2025 00:00:00 +0530 Wed, 09 Sep 2026 19:00:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471582 Section 14A disallowance does not extend to interest expenditure where the taxpayer's own non-interest-bearing funds exceed investments. Rule 8D indirect-expenditure computation is confined to investments that generated exempt income during the relevant year. The Finance Act 2022 amendment to section 14A applies from 1 April 2022 and does not operate retrospectively for earlier assessment years. For minimum alternate tax purposes, the section 14A and Rule 8D computation mechanism cannot be imported into the adjustment under clause (f) of Explanation 1 to section 115JB(2). Accordingly, such disallowance cannot be added to book profit on that basis. Case-Laws Income Tax Mon, 07 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471582