https://www.taxtmi.com/caselaws?id=257203 The ITAT upheld the CIT(A)'s decisions regarding the disallowance of bad debts and interest expenditure, dismissing the Revenue's appeal. The bad debts claimed by the Assessee were allowed as the Assessee fulfilled requirements under section 36(1)(vii), supported by the Supreme Court decision in T.R.F. Limited vs. CIT. The disallowance of interest expenditure under section 14A r.w.r. 8D was partially allowed based on the Assessee's submissions and the presence of sufficient interest-free funds, as per the decision in the Reliance Utilities case. The judgments were based on the Assessee's compliance and the lack of evidence from the Revenue. en-us Tue, 05 Aug 2014 00:00:00 +0530 Thu, 05 Mar 2015 08:39:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257203 The ITAT upheld the CIT(A)'s decisions regarding the disallowance of bad debts and interest expenditure, dismissing the Revenue's appeal. The bad debts claimed by the Assessee were allowed as the Assessee fulfilled requirements under section 36(1)(vii), supported by the Supreme Court decision in T.R.F. Limited vs. CIT. The disallowance of interest expenditure under section 14A r.w.r. 8D was partially allowed based on the Assessee's submissions and the presence of sufficient interest-free funds, as per the decision in the Reliance Utilities case. The judgments were based on the Assessee's compliance and the lack of evidence from the Revenue. Case-Laws Income Tax Tue, 05 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257203