https://www.taxtmi.com/caselaws?id=119626 The Tribunal set aside the CIT(A)'s decision disallowing interest expenditure and directed a fresh consideration, emphasizing the applicability of section 14A to determine deductibility under sections 36(1)(iii) and 57(iii). The Tribunal highlighted that borrowed funds must be used for the business purpose, not investments, and instructed the CIT(A) to calculate any disallowance under section 14A. The appeal by the assessee was allowed for statistical purposes. en-us Tue, 06 Feb 2007 00:00:00 +0530 Thu, 12 Jul 2012 12:38:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119626 The Tribunal set aside the CIT(A)'s decision disallowing interest expenditure and directed a fresh consideration, emphasizing the applicability of section 14A to determine deductibility under sections 36(1)(iii) and 57(iii). The Tribunal highlighted that borrowed funds must be used for the business purpose, not investments, and instructed the CIT(A) to calculate any disallowance under section 14A. The appeal by the assessee was allowed for statistical purposes. Case-Laws Income Tax Tue, 06 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119626