Tag Archives: Rule 8D

Burden on assessee to prove interest-free funds exceeded value of investment to escape section 14A disallowance

Held The burden is upon the assessee to show and prove that interest free fund far exceeds the value of investment and thereafter, to justify the quantification of amount of Rs. 4 lakhs towards disallowance for the exempted income. In the present case, the said burden has not been discharged satisfactorily and thereafter, the assessing… Read More »