https://www.taxtmi.com/caselaws?id=270380 The Tribunal dismissed the Revenue's appeal and allowed both appeals of the assessee. It concluded that no disallowance under Section 14A was warranted due to the absence of exempt income. The proportionate disallowance of interest on interest-free loans was deemed unjustified, and the deletion of disallowance for late payment of employees' contributions was upheld. Additionally, for the assessment year 2009-10, the Tribunal directed the deletion of the addition under Section 14A read with Rule 8D, similar to the decision for the preceding year. en-us Fri, 16 Oct 2015 00:00:00 +0530 Tue, 05 Jan 2016 11:13:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270380 The Tribunal dismissed the Revenue's appeal and allowed both appeals of the assessee. It concluded that no disallowance under Section 14A was warranted due to the absence of exempt income. The proportionate disallowance of interest on interest-free loans was deemed unjustified, and the deletion of disallowance for late payment of employees' contributions was upheld. Additionally, for the assessment year 2009-10, the Tribunal directed the deletion of the addition under Section 14A read with Rule 8D, similar to the decision for the preceding year. Case-Laws Income Tax Fri, 16 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270380