https://www.taxtmi.com/caselaws?id=473059 Indirect expenditure relating to exempt income is disallowable under section 14A. Where a taxpayer accepts that such expenditure is disallowable but provides no calculation for a voluntary disallowance, the assessing officer may recompute it under Rule 8D without separately recording satisfaction. The recomputation may use one-half per cent of average investments; authorities concerning interest expenditure are distinguishable in this context. en-us Fri, 13 Jul 2018 00:00:00 +0530 Tue, 03 Nov 2026 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=473059 Indirect expenditure relating to exempt income is disallowable under section 14A. Where a taxpayer accepts that such expenditure is disallowable but provides no calculation for a voluntary disallowance, the assessing officer may recompute it under Rule 8D without separately recording satisfaction. The recomputation may use one-half per cent of average investments; authorities concerning interest expenditure are distinguishable in this context. Case-Laws Income Tax Fri, 13 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=473059