https://www.taxtmi.com/caselaws?id=237823 The Tribunal allowed the assessee's appeal, remitting the issue back to the Assessing Officer for detailed examination of the disallowance of interest under sections 14A and 36(1)(iii) of the Income Tax Act, 1961. The Tribunal emphasized the importance of providing the assessee with a reasonable opportunity to present their case and directed the Assessing Officer to verify the utilization of borrowed funds for investments, restricting the disallowance to the relevant period. The judgment underscored the necessity of thorough verification of facts to determine the appropriate disallowance related to interest. en-us Fri, 04 Oct 2013 00:00:00 +0530 Tue, 08 Oct 2013 21:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237823 The Tribunal allowed the assessee's appeal, remitting the issue back to the Assessing Officer for detailed examination of the disallowance of interest under sections 14A and 36(1)(iii) of the Income Tax Act, 1961. The Tribunal emphasized the importance of providing the assessee with a reasonable opportunity to present their case and directed the Assessing Officer to verify the utilization of borrowed funds for investments, restricting the disallowance to the relevant period. The judgment underscored the necessity of thorough verification of facts to determine the appropriate disallowance related to interest. Case-Laws Income Tax Fri, 04 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237823