https://www.taxtmi.com/caselaws?id=178503 Where an assessee's own free reserves and share capital are sufficient to cover investments yielding exempt income, the presumption is that the investments were made from interest-free funds, and no interest disallowance under Section 14A is justified for the borrowed-funds component. The Tribunal therefore deleted the interest-related disallowance. For the remaining administrative expenditure component under Rule 8D, the computation required fresh examination of the partnership-firm receipt and the applicable special bench guidance, so that part was remitted for recomputation. The assessee obtained only partial relief. en-us Fri, 22 Mar 2013 00:00:00 +0530 Thu, 25 May 2017 14:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178503 Where an assessee's own free reserves and share capital are sufficient to cover investments yielding exempt income, the presumption is that the investments were made from interest-free funds, and no interest disallowance under Section 14A is justified for the borrowed-funds component. The Tribunal therefore deleted the interest-related disallowance. For the remaining administrative expenditure component under Rule 8D, the computation required fresh examination of the partnership-firm receipt and the applicable special bench guidance, so that part was remitted for recomputation. The assessee obtained only partial relief. Case-Laws Income Tax Fri, 22 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178503