https://www.taxtmi.com/caselaws?id=244299 The Tribunal dismissed the Revenue's appeals and partly allowed the assessee's Cross-Objections, confirming the CIT(A)'s order and deleting the disallowance of interest expenditure under Section 14A and Section 36 of the Income Tax Act. The Tribunal emphasized adherence to judicial precedents and proper verification of facts, ruling in favor of the assessee based on the lack of nexus between interest-bearing funds and investments and the availability of sufficient interest-free funds. en-us Fri, 17 Jan 2014 00:00:00 +0530 Sat, 22 Feb 2014 17:45:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244299 The Tribunal dismissed the Revenue's appeals and partly allowed the assessee's Cross-Objections, confirming the CIT(A)'s order and deleting the disallowance of interest expenditure under Section 14A and Section 36 of the Income Tax Act. The Tribunal emphasized adherence to judicial precedents and proper verification of facts, ruling in favor of the assessee based on the lack of nexus between interest-bearing funds and investments and the availability of sufficient interest-free funds. Case-Laws Income Tax Fri, 17 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244299