https://www.taxtmi.com/caselaws?id=801061 Section 14A disallowance requires factual verification where sponsorship-related expenditure is claimed and exempt-income investments exist. The expenditure must be examined to determine whether it relates exclusively to sponsorship income rather than investments producing exempt income; any adjustment is to be restricted under Rule 8D(ii). Income offered on a gross basis does not remove the need for that verification where specific expenditure has been claimed. Earlier assessments containing no disallowance do not bar examination in a later year, because each assessment year is separate and res judicata does not apply to income-tax assessments. en-us Tue, 29 Sep 2026 00:00:00 +0530 Thu, 15 Oct 2026 05:44:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801061 Section 14A disallowance requires factual verification where sponsorship-related expenditure is claimed and exempt-income investments exist. The expenditure must be examined to determine whether it relates exclusively to sponsorship income rather than investments producing exempt income; any adjustment is to be restricted under Rule 8D(ii). Income offered on a gross basis does not remove the need for that verification where specific expenditure has been claimed. Earlier assessments containing no disallowance do not bar examination in a later year, because each assessment year is separate and res judicata does not apply to income-tax assessments. Case-Laws Income Tax Tue, 29 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801061