https://www.taxtmi.com/caselaws?id=238834 The Tribunal allowed the appeals of the assessee, emphasizing the business nature of the investments and the lack of dividend income, leading to the deletion of the disallowance made by the CIT(A) under section 14A for both assessment years. The Tribunal ruled that strategic investments made for business expansion did not warrant disallowance under section 14A, ultimately resulting in the reversal of the disallowances totaling Rs. 8,75,35,452/- for AY 2007-08 and Rs. 7,02,54,564/- for AY 2008-09. en-us Fri, 27 Sep 2013 00:00:00 +0530 Fri, 01 Nov 2013 05:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238834 The Tribunal allowed the appeals of the assessee, emphasizing the business nature of the investments and the lack of dividend income, leading to the deletion of the disallowance made by the CIT(A) under section 14A for both assessment years. The Tribunal ruled that strategic investments made for business expansion did not warrant disallowance under section 14A, ultimately resulting in the reversal of the disallowances totaling Rs. 8,75,35,452/- for AY 2007-08 and Rs. 7,02,54,564/- for AY 2008-09. Case-Laws Income Tax Fri, 27 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238834