https://www.taxtmi.com/caselaws?id=214256 The Tribunal partly allowed the appeal, directing the CIT(A) to decide on the set-off of brought forward losses against business income. The disallowance of interest under Section 14A in respect of exempt income from dividends was upheld, citing that no deduction was allowable for interest expenditure related to exempt income. The Tribunal found the Proviso to Section 14A inapplicable due to the nature of the notice issued by the Assessing Officer. en-us Fri, 17 Feb 2012 00:00:00 +0530 Thu, 21 Jun 2012 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214256 The Tribunal partly allowed the appeal, directing the CIT(A) to decide on the set-off of brought forward losses against business income. The disallowance of interest under Section 14A in respect of exempt income from dividends was upheld, citing that no deduction was allowable for interest expenditure related to exempt income. The Tribunal found the Proviso to Section 14A inapplicable due to the nature of the notice issued by the Assessing Officer. Case-Laws Income Tax Fri, 17 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214256