https://www.taxtmi.com/caselaws?id=245399 The judgment upheld the Tribunal's decision to disallow interest expenses under section 14A of the Income-tax Act, 1961. The court found that the disallowance was justified as there were no fresh investments made during the relevant year, and the company had significant interest-free funds available compared to investments. It was emphasized that the disallowance under section 14A is not permissible if borrowed funds are not utilized for investments in shares to earn dividends. The Tax Appeals were dismissed, with no costs awarded. en-us Fri, 10 Jan 2014 00:00:00 +0530 Fri, 28 Mar 2014 10:57:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245399 The judgment upheld the Tribunal's decision to disallow interest expenses under section 14A of the Income-tax Act, 1961. The court found that the disallowance was justified as there were no fresh investments made during the relevant year, and the company had significant interest-free funds available compared to investments. It was emphasized that the disallowance under section 14A is not permissible if borrowed funds are not utilized for investments in shares to earn dividends. The Tax Appeals were dismissed, with no costs awarded. Case-Laws Income Tax Fri, 10 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245399