https://www.taxtmi.com/caselaws?id=328267 The Tribunal allowed the Revenue's appeal, overturning the CIT(A)'s decision to delete the disallowance made by the Assessing Officer under section 14A of the Income Tax Act. The Tribunal held that the interest expenditure incurred by the assessee, without receiving any shares in return, was not allowable as a deduction under section 14A. The Tribunal emphasized the need for strategic management in investment decisions and reinstated the AO's order to disallow the interest expenditure. The appeal by the Revenue was successful, and the Tribunal's decision was pronounced on March 10, 2016, in Chennai. en-us Thu, 10 Mar 2016 00:00:00 +0530 Mon, 30 May 2016 22:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328267 The Tribunal allowed the Revenue's appeal, overturning the CIT(A)'s decision to delete the disallowance made by the Assessing Officer under section 14A of the Income Tax Act. The Tribunal held that the interest expenditure incurred by the assessee, without receiving any shares in return, was not allowable as a deduction under section 14A. The Tribunal emphasized the need for strategic management in investment decisions and reinstated the AO's order to disallow the interest expenditure. The appeal by the Revenue was successful, and the Tribunal's decision was pronounced on March 10, 2016, in Chennai. Case-Laws Income Tax Thu, 10 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328267