https://www.taxtmi.com/caselaws?id=256481 The appeal was partly allowed as the disallowance under section 14A of the Income Tax Act was restricted based on the analysis of borrowed funds and investment activities. The disallowance amount was reduced to Rs. 5,64,016, and the addition on account of interest disallowance under section 14A was deleted. The court found that no borrowed funds were used for investments and concluded that the Assessing Officer's calculation of disallowance was not entirely justified. en-us Fri, 23 Nov 2012 00:00:00 +0530 Sat, 14 Feb 2015 11:21:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256481 The appeal was partly allowed as the disallowance under section 14A of the Income Tax Act was restricted based on the analysis of borrowed funds and investment activities. The disallowance amount was reduced to Rs. 5,64,016, and the addition on account of interest disallowance under section 14A was deleted. The court found that no borrowed funds were used for investments and concluded that the Assessing Officer's calculation of disallowance was not entirely justified. Case-Laws Income Tax Fri, 23 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256481