https://www.taxtmi.com/caselaws?id=328493 The Tribunal partly allowed the assessee's appeal and dismissed the revenue's appeal. It emphasized the need for proper identification of expenditure before disallowing under Section 14A and upheld the capitalization of interest on borrowed funds for business expansion. The Tribunal ruled in favor of the assessee regarding the disallowance under Section 14A and interest on interest-free advances to related parties, citing sufficient interest-free funds. en-us Fri, 29 Apr 2016 00:00:00 +0530 Mon, 06 Jun 2016 11:32:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328493 The Tribunal partly allowed the assessee's appeal and dismissed the revenue's appeal. It emphasized the need for proper identification of expenditure before disallowing under Section 14A and upheld the capitalization of interest on borrowed funds for business expansion. The Tribunal ruled in favor of the assessee regarding the disallowance under Section 14A and interest on interest-free advances to related parties, citing sufficient interest-free funds. Case-Laws Income Tax Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328493