https://www.taxtmi.com/caselaws?id=216550 The Tribunal partly allowed the revenue's appeal for statistical purposes. It held that the disallowance under section 14A could not be sustained as there was no purchase of shares, making section 14A inapplicable. The Tribunal directed the AO to assess the overall funds availability in line with a decision of the Hon'ble Bombay High Court. It stressed the significance of evaluating commercial expediency in transactions and emphasized the necessity for thorough examination by revenue authorities in such instances. en-us Fri, 29 Jun 2012 00:00:00 +0530 Fri, 31 Aug 2012 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216550 The Tribunal partly allowed the revenue's appeal for statistical purposes. It held that the disallowance under section 14A could not be sustained as there was no purchase of shares, making section 14A inapplicable. The Tribunal directed the AO to assess the overall funds availability in line with a decision of the Hon'ble Bombay High Court. It stressed the significance of evaluating commercial expediency in transactions and emphasized the necessity for thorough examination by revenue authorities in such instances. Case-Laws Income Tax Fri, 29 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216550