https://www.taxtmi.com/caselaws?id=121558 The Tribunal allowed the assessee's appeal for statistical purposes, directing the AO to re-examine the issues. It remitted the disallowance of interest expenditures and section 14A disallowance back to the AO for reconsideration, emphasizing the need to verify the availability of interest-free funds and the correctness of the assessee's claims. It also instructed the AO to reassess the section 80HHC deduction, adhering to relevant legal precedents, and to consider the applicability of section 234D interest charges based on the effective date. The assessee is to be given an opportunity for a hearing during this reassessment. en-us Fri, 20 Feb 2009 00:00:00 +0530 Fri, 27 Oct 2023 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121558 The Tribunal allowed the assessee's appeal for statistical purposes, directing the AO to re-examine the issues. It remitted the disallowance of interest expenditures and section 14A disallowance back to the AO for reconsideration, emphasizing the need to verify the availability of interest-free funds and the correctness of the assessee's claims. It also instructed the AO to reassess the section 80HHC deduction, adhering to relevant legal precedents, and to consider the applicability of section 234D interest charges based on the effective date. The assessee is to be given an opportunity for a hearing during this reassessment. Case-Laws Income Tax Fri, 20 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121558