https://www.taxtmi.com/caselaws?id=259738 The High Court upheld the Tribunal's decision regarding relief under Section 14A of the Income Tax Act, 1961, emphasizing that factual findings could not be disturbed. Additionally, the Court supported the deletion of additions under Section 36 for interest as non-allowable expenditure, as the loan was used for trading purposes, not for extending the existing business. The Court also agreed with the Tribunal on the deletion of additions under Section 37 for processing fees for the loan, considering them an allowable expenditure. As such, the Court dismissed the appeal, finding no substantial question of law. en-us Fri, 05 Sep 2014 00:00:00 +0530 Wed, 20 May 2015 07:56:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259738 The High Court upheld the Tribunal's decision regarding relief under Section 14A of the Income Tax Act, 1961, emphasizing that factual findings could not be disturbed. Additionally, the Court supported the deletion of additions under Section 36 for interest as non-allowable expenditure, as the loan was used for trading purposes, not for extending the existing business. The Court also agreed with the Tribunal on the deletion of additions under Section 37 for processing fees for the loan, considering them an allowable expenditure. As such, the Court dismissed the appeal, finding no substantial question of law. Case-Laws Income Tax Fri, 05 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259738