https://www.taxtmi.com/caselaws?id=179005 The ITAT partly allowed the appeal, setting aside the disallowance under section 14 A of the Income Tax Act due to lack of evidence of expenditure by the appellant in earning exempt income. The matter was remitted back to the AO for fresh consideration, emphasizing the necessity of evidence before disallowance. The challenge regarding capitalization of interest on fixed assets was not pursued by the appellant, leading to dismissal of related grounds. en-us Thu, 18 Jun 2015 00:00:00 +0530 Thu, 18 Feb 2016 07:08:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179005 The ITAT partly allowed the appeal, setting aside the disallowance under section 14 A of the Income Tax Act due to lack of evidence of expenditure by the appellant in earning exempt income. The matter was remitted back to the AO for fresh consideration, emphasizing the necessity of evidence before disallowance. The challenge regarding capitalization of interest on fixed assets was not pursued by the appellant, leading to dismissal of related grounds. Case-Laws Income Tax Thu, 18 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179005