https://www.taxtmi.com/caselaws?id=182961 The Tribunal partly allowed the appeal, deleting the disallowance under section 14A of the Income Tax Act while upholding the capitalization of interest amount for the new paint shop. The Tribunal found that no disallowance under section 14A could be made as the increase in investments during the year and the adequacy of the assessee's own funds covered the investments. Regarding the interest amount for the new paint shop, the Tribunal upheld the disallowance, noting the use of interest-bearing funds and the purchase of a new asset imported from Germany. en-us Thu, 29 Oct 2015 00:00:00 +0530 Thu, 29 Dec 2016 18:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182961 The Tribunal partly allowed the appeal, deleting the disallowance under section 14A of the Income Tax Act while upholding the capitalization of interest amount for the new paint shop. The Tribunal found that no disallowance under section 14A could be made as the increase in investments during the year and the adequacy of the assessee's own funds covered the investments. Regarding the interest amount for the new paint shop, the Tribunal upheld the disallowance, noting the use of interest-bearing funds and the purchase of a new asset imported from Germany. Case-Laws Income Tax Thu, 29 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182961