https://www.taxtmi.com/caselaws?id=178616 The Tax Appeal challenging the order of the Income Tax Appellate Tribunal regarding the disallowance under Section 14A of the Income Tax Act was dismissed. The Tribunal upheld the deletion of the addition as the Revenue failed to prove a nexus between borrowed funds and investments in equity shares, especially when interest-free funds were available with the assessee. The decision emphasized the importance of establishing a clear connection between borrowed funds and investments for determining tax liability accurately. en-us Mon, 28 Jan 2013 00:00:00 +0530 Thu, 08 Jun 2017 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178616 The Tax Appeal challenging the order of the Income Tax Appellate Tribunal regarding the disallowance under Section 14A of the Income Tax Act was dismissed. The Tribunal upheld the deletion of the addition as the Revenue failed to prove a nexus between borrowed funds and investments in equity shares, especially when interest-free funds were available with the assessee. The decision emphasized the importance of establishing a clear connection between borrowed funds and investments for determining tax liability accurately. Case-Laws Income Tax Mon, 28 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178616