https://www.taxtmi.com/caselaws?id=327834 The Tribunal allowed the assessee's appeal regarding the disallowance under section 14A of the Income Tax Act, as investments were made from owned funds and no disallowance on interest was warranted. Additionally, the claim of Rs. 2.51 crores as bad debt/business loss due to forfeiture by BHEL was considered a business loss, not a capital loss, as it resulted from a business decision for better efficiency. The Tribunal dismissed the Department's appeal, emphasizing business prudence and proper application of legal provisions and precedents. en-us Mon, 25 Apr 2016 00:00:00 +0530 Fri, 20 May 2016 13:19:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327834 The Tribunal allowed the assessee's appeal regarding the disallowance under section 14A of the Income Tax Act, as investments were made from owned funds and no disallowance on interest was warranted. Additionally, the claim of Rs. 2.51 crores as bad debt/business loss due to forfeiture by BHEL was considered a business loss, not a capital loss, as it resulted from a business decision for better efficiency. The Tribunal dismissed the Department's appeal, emphasizing business prudence and proper application of legal provisions and precedents. Case-Laws Income Tax Mon, 25 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327834