https://www.taxtmi.com/caselaws?id=75303 HC upheld dismissal of the appeal, holding that s.14A was inapplicable where the assessee made no claim for exemption. The court clarified that prior observations permitting interest deduction on loans used for genuine business purposes related to loans diverted to sister concerns without business nexus; those observations must be read in that context. Because no exemption claim was made here, disallowance under s.14A could not be invoked and the appeal failed. en-us Tue, 25 Aug 2009 00:00:00 +0530 Wed, 03 Sep 2025 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75303 HC upheld dismissal of the appeal, holding that s.14A was inapplicable where the assessee made no claim for exemption. The court clarified that prior observations permitting interest deduction on loans used for genuine business purposes related to loans diverted to sister concerns without business nexus; those observations must be read in that context. Because no exemption claim was made here, disallowance under s.14A could not be invoked and the appeal failed. Case-Laws Income Tax Tue, 25 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75303