Rule 8D dissatisfaction requirement limits exempt-income disallowance, while captive-power deductions and qualifying investment allowances receive recognition.

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....Rule 8D disallowance requires the Assessing Officer to record specific dissatisfaction, after examining the taxpayer's working, before indirect expenditure relating to exempt income can be disallowed; general observations on investments are insufficient. Where own interest-free funds cover exempt-income investments, a presumption applies that those investments were made from such funds, preventing interest disallowance. Eligible captive power undertakings may compute profits on a standalone basis, use regulated industrial tariffs as an internal comparable for captive electricity, and claim investment allowance when capital work-in-progress is installed and commissioned during the year. Corporate advertising, lease equalisation charges and e.........