https://www.taxtmi.com/caselaws?id=249219 The Tribunal upheld the CIT(A)'s decision in favor of the assessee, allowing the netting off of interest income against expenditure incurred for earning exempt income. The Tribunal found a direct nexus between the loan, interest payments, interest received, and investments, supporting the assessee's approach. Consequently, the Revenue's appeal challenging the deletion of disallowance under section 14A read with Rule 8D was dismissed, affirming the validity of the netting off method utilized by the assessee. en-us Thu, 26 Jun 2014 00:00:00 +0530 Tue, 08 Jul 2014 08:49:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249219 The Tribunal upheld the CIT(A)'s decision in favor of the assessee, allowing the netting off of interest income against expenditure incurred for earning exempt income. The Tribunal found a direct nexus between the loan, interest payments, interest received, and investments, supporting the assessee's approach. Consequently, the Revenue's appeal challenging the deletion of disallowance under section 14A read with Rule 8D was dismissed, affirming the validity of the netting off method utilized by the assessee. Case-Laws Income Tax Thu, 26 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249219