PRL COMMISSOER OF INCOME TAX vs. SRISURAM VENKATESWARA REDDY

In the result, appeal filed by the revenue fails and is

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

14A read with Rule 8D(2) (ii) and (iii) of the Act on expenditure incurred on earning 4 exempt income even when the assessing authority rightly made disallowances as conditions for making such disallowances were satisfied and assessee failed to show flow of its own funds to those investments from which income is exempt? 3. Whether on the facts