https://www.taxtmi.com/caselaws?id=178582 The Tribunal partially allowed the appeal by the partnership firm, ruling that interest on capital cannot be treated as an expenditure for earning dividend income under section 14A of the Income Tax Act. The disallowance of interest expenditure not related to borrowed funds was deleted. Regarding the addition under section 40(a)(i) for foreign commission payment, the Tribunal upheld the CIT(A)'s decision to delete the addition, citing the applicability of a withdrawn CBDT Circular during the relevant assessment year. The revenue's appeal on this issue was dismissed. Judgment was pronounced on March 11, 2015. en-us Wed, 11 Mar 2015 00:00:00 +0530 Tue, 09 Feb 2016 10:28:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178582 The Tribunal partially allowed the appeal by the partnership firm, ruling that interest on capital cannot be treated as an expenditure for earning dividend income under section 14A of the Income Tax Act. The disallowance of interest expenditure not related to borrowed funds was deleted. Regarding the addition under section 40(a)(i) for foreign commission payment, the Tribunal upheld the CIT(A)'s decision to delete the addition, citing the applicability of a withdrawn CBDT Circular during the relevant assessment year. The revenue's appeal on this issue was dismissed. Judgment was pronounced on March 11, 2015. Case-Laws Income Tax Wed, 11 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178582