https://www.taxtmi.com/caselaws?id=182670 The High Court of Bombay dismissed the appeal challenging the disallowance of interest under Section 80M of the Income Tax Act for the assessment year 1992-93. The ITAT's decision to delete the disallowance was upheld as it found no nexus between borrowed funds and investments, with the assessee having adequate funds for investments. The Court concluded that no substantial question of law emerged from the case, resulting in the dismissal of the appeal without costs. en-us Thu, 16 Jun 2011 00:00:00 +0530 Tue, 17 May 2016 11:04:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182670 The High Court of Bombay dismissed the appeal challenging the disallowance of interest under Section 80M of the Income Tax Act for the assessment year 1992-93. The ITAT's decision to delete the disallowance was upheld as it found no nexus between borrowed funds and investments, with the assessee having adequate funds for investments. The Court concluded that no substantial question of law emerged from the case, resulting in the dismissal of the appeal without costs. Case-Laws Income Tax Thu, 16 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182670