https://www.taxtmi.com/caselaws?id=255710 The appeal was allowed in favor of the assessee. The disallowance of Rs. 42,50,000 for interest expenses was deleted as the Tribunal found sufficient interest-free funds to cover the investments, thus no nexus between interest-bearing funds and non-business investments. The applicability of Section 14A was rejected due to the adequacy of interest-free funds. The issue of charging interest under Section 234B was considered consequential. en-us Fri, 16 Jan 2015 00:00:00 +0530 Sat, 24 Jan 2015 10:17:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255710 The appeal was allowed in favor of the assessee. The disallowance of Rs. 42,50,000 for interest expenses was deleted as the Tribunal found sufficient interest-free funds to cover the investments, thus no nexus between interest-bearing funds and non-business investments. The applicability of Section 14A was rejected due to the adequacy of interest-free funds. The issue of charging interest under Section 234B was considered consequential. Case-Laws Income Tax Fri, 16 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255710