https://www.taxtmi.com/caselaws?id=235943 The HC held that when an assessee has sufficient interest-free funds to meet its investments despite raising a loan, it is presumed that investments were made from such interest-free funds. The assessee's suo moto disallowance under section 14A was acknowledged, and the Assessing Officer's disallowance without determining the actual administrative expenditure incurred to earn exempt income was not justified. The court ruled in favor of the assessee, following the precedent set by CIT v. Reliance Utilities Power Ltd., thereby deciding against the Revenue. en-us Fri, 22 Mar 2013 00:00:00 +0530 Fri, 07 Aug 2026 14:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235943 The HC held that when an assessee has sufficient interest-free funds to meet its investments despite raising a loan, it is presumed that investments were made from such interest-free funds. The assessee's suo moto disallowance under section 14A was acknowledged, and the Assessing Officer's disallowance without determining the actual administrative expenditure incurred to earn exempt income was not justified. The court ruled in favor of the assessee, following the precedent set by CIT v. Reliance Utilities Power Ltd., thereby deciding against the Revenue. Case-Laws Income Tax Fri, 22 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235943