https://www.taxtmi.com/caselaws?id=325049 The Tribunal ruled in favor of the assessee, emphasizing the availability of interest-free funds for investments and the estimation of indirect expenses for disallowance purposes. The disallowance under section 14A was limited to Rs. 5 lakhs, overturning the balance addition confirmed by CIT(A) and partly allowing the appeal. The importance of demonstrating the source of funds for investments and justifying indirect expenses in line with the nature of activities was highlighted in the decision. en-us Thu, 15 Oct 2015 00:00:00 +0530 Wed, 09 Mar 2016 11:25:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325049 The Tribunal ruled in favor of the assessee, emphasizing the availability of interest-free funds for investments and the estimation of indirect expenses for disallowance purposes. The disallowance under section 14A was limited to Rs. 5 lakhs, overturning the balance addition confirmed by CIT(A) and partly allowing the appeal. The importance of demonstrating the source of funds for investments and justifying indirect expenses in line with the nature of activities was highlighted in the decision. Case-Laws Income Tax Thu, 15 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325049