https://www.taxtmi.com/caselaws?id=243138 The tribunal partly allowed the appeal filed by the Assessing Officer, emphasizing the importance of considering net interest for disallowance under section 14A of the Income Tax Act. It directed proper verification and documentation of expenses under section 37(1) of the Act, stating that the First Appellate Authority should have obtained a remand report before accepting the bifurcation of expenses. Ground no. 2 was allowed in part in favor of the AO, with the matter being sent back to the AO for fresh adjudication. en-us Wed, 04 Dec 2013 00:00:00 +0530 Sun, 26 Jan 2014 19:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243138 The tribunal partly allowed the appeal filed by the Assessing Officer, emphasizing the importance of considering net interest for disallowance under section 14A of the Income Tax Act. It directed proper verification and documentation of expenses under section 37(1) of the Act, stating that the First Appellate Authority should have obtained a remand report before accepting the bifurcation of expenses. Ground no. 2 was allowed in part in favor of the AO, with the matter being sent back to the AO for fresh adjudication. Case-Laws Income Tax Wed, 04 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243138