https://www.taxtmi.com/caselaws?id=325181 The Tribunal held that the disallowance of interest on investment in the partnership firm was unjustified as it was made for business exigency and commercial expediency. The Tribunal found that the investment was not solely from borrowed funds, and the profit earned was taxed in the partnership firm's hands, making Section 14A inapplicable. Consequently, the disallowance of interest was overturned, and the assessee's appeals were successful. en-us Mon, 08 Feb 2016 00:00:00 +0530 Sat, 12 Mar 2016 09:13:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325181 The Tribunal held that the disallowance of interest on investment in the partnership firm was unjustified as it was made for business exigency and commercial expediency. The Tribunal found that the investment was not solely from borrowed funds, and the profit earned was taxed in the partnership firm's hands, making Section 14A inapplicable. Consequently, the disallowance of interest was overturned, and the assessee's appeals were successful. Case-Laws Income Tax Mon, 08 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325181