https://www.taxtmi.com/caselaws?id=270810 The Appellate Tribunal set aside the assessment order as it was deemed erroneous and prejudicial to the revenue's interest due to the Assessing Officer's failure to consider interest expenditure for disallowance under section 14A. The Tribunal emphasized the necessity of proper inquiry and application of mind by the Assessing Officer. Consequently, the Tribunal allowed the appeal filed by the assessee, quashing the order of the CIT and remanding the matter to the Assessing Officer for reconsideration. en-us Tue, 27 Oct 2015 00:00:00 +0530 Sat, 16 Jan 2016 07:55:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270810 The Appellate Tribunal set aside the assessment order as it was deemed erroneous and prejudicial to the revenue's interest due to the Assessing Officer's failure to consider interest expenditure for disallowance under section 14A. The Tribunal emphasized the necessity of proper inquiry and application of mind by the Assessing Officer. Consequently, the Tribunal allowed the appeal filed by the assessee, quashing the order of the CIT and remanding the matter to the Assessing Officer for reconsideration. Case-Laws Income Tax Tue, 27 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270810