https://www.taxtmi.com/caselaws?id=259402 The High Court upheld the Tribunal's decision to delete the disallowance of interest expenses under Section 14A in its entirety, finding that the assessee had sufficient interest-free funds for investments. Additionally, the Court confirmed the deletion of the disallowance under Section 40(a)(ia) for non-deduction of TDS on overseas freight, noting that the payment to a non-resident shipping company was not covered under relevant sections of the Income Tax Act. The Court dismissed the Tax Appeals, concluding that no substantial question of law arose in the cases. en-us Mon, 27 Apr 2015 00:00:00 +0530 Sat, 09 May 2015 11:20:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259402 The High Court upheld the Tribunal's decision to delete the disallowance of interest expenses under Section 14A in its entirety, finding that the assessee had sufficient interest-free funds for investments. Additionally, the Court confirmed the deletion of the disallowance under Section 40(a)(ia) for non-deduction of TDS on overseas freight, noting that the payment to a non-resident shipping company was not covered under relevant sections of the Income Tax Act. The Court dismissed the Tax Appeals, concluding that no substantial question of law arose in the cases. Case-Laws Income Tax Mon, 27 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259402