https://www.taxtmi.com/caselaws?id=209916 The High Court upheld the Tribunal's decision to delete the disallowance of interest payment on borrowed capital under Section 14A of the Income-Tax Act, 1961. The Court found that the assessee had surplus funds for investment, no fresh investment was made using borrowed funds, and there was no evidence linking the expenditure to dividend income. The decision was based on presented evidence, and the Court dismissed the Tax Appeal with no order as to costs. en-us Mon, 25 Jul 2011 00:00:00 +0530 Mon, 08 Jul 2013 17:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209916 The High Court upheld the Tribunal's decision to delete the disallowance of interest payment on borrowed capital under Section 14A of the Income-Tax Act, 1961. The Court found that the assessee had surplus funds for investment, no fresh investment was made using borrowed funds, and there was no evidence linking the expenditure to dividend income. The decision was based on presented evidence, and the Court dismissed the Tax Appeal with no order as to costs. Case-Laws Income Tax Mon, 25 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209916