https://www.taxtmi.com/caselaws?id=180757 The Tribunal partly allowed the appeal by deleting the disallowance under section 14A read with Rule 8D, as there was no nexus between interest-bearing borrowed funds and investments in shares. The Tribunal also upheld the decision that MAT credit should be allowed after the levy of surcharge and education cess, in line with the Supreme Court's ruling. The case outcome was pronounced on November 20, 2015. en-us Fri, 20 Nov 2015 00:00:00 +0530 Fri, 01 Apr 2016 11:24:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180757 The Tribunal partly allowed the appeal by deleting the disallowance under section 14A read with Rule 8D, as there was no nexus between interest-bearing borrowed funds and investments in shares. The Tribunal also upheld the decision that MAT credit should be allowed after the levy of surcharge and education cess, in line with the Supreme Court's ruling. The case outcome was pronounced on November 20, 2015. Case-Laws Income Tax Fri, 20 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180757