https://www.taxtmi.com/caselaws?id=326970 The respondent-assessee's disallowance of interest related to earning exempt income under Section 14A was upheld by the CIT (A) due to a lack of explanation on the investment source. However, the Tribunal found the respondent had sufficient own funds to cover the investments, leading to no substantial question of law. The issue of liability on warranties was not addressed by the Tribunal as it was not raised by either party. The questions regarding provisions of warranty within Section 115JB and treatment of advances received during the year were also not entertained. The appeal on the liability of warranties was admitted for further proceedings. en-us Mon, 18 Apr 2016 00:00:00 +0530 Fri, 29 Apr 2016 11:26:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326970 The respondent-assessee's disallowance of interest related to earning exempt income under Section 14A was upheld by the CIT (A) due to a lack of explanation on the investment source. However, the Tribunal found the respondent had sufficient own funds to cover the investments, leading to no substantial question of law. The issue of liability on warranties was not addressed by the Tribunal as it was not raised by either party. The questions regarding provisions of warranty within Section 115JB and treatment of advances received during the year were also not entertained. The appeal on the liability of warranties was admitted for further proceedings. Case-Laws Income Tax Mon, 18 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326970