https://www.taxtmi.com/caselaws?id=247665 The HC upheld the Tribunal's decision allowing the assessee's claim regarding interest liability, ruling it arose from a contractual dispute resolved by a supplementary agreement dated 12 April 2007, not from the original 30 March 2000 agreement. The court found no statutory liability for interest at the earlier date and declined Revenue's challenge. Regarding disallowance under section 14A, the HC agreed with the CIT(A) and Tribunal that since the assessee did not earn any exempt income, no corresponding expenditure disallowance was warranted. Both issues were decided against Revenue, affirming the lower authorities' rulings. en-us Mon, 05 May 2014 00:00:00 +0530 Wed, 20 May 2026 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247665 The HC upheld the Tribunal's decision allowing the assessee's claim regarding interest liability, ruling it arose from a contractual dispute resolved by a supplementary agreement dated 12 April 2007, not from the original 30 March 2000 agreement. The court found no statutory liability for interest at the earlier date and declined Revenue's challenge. Regarding disallowance under section 14A, the HC agreed with the CIT(A) and Tribunal that since the assessee did not earn any exempt income, no corresponding expenditure disallowance was warranted. Both issues were decided against Revenue, affirming the lower authorities' rulings. Case-Laws Income Tax Mon, 05 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247665