https://www.taxtmi.com/caselaws?id=330366 The High Court upheld the decision in favor of the assessee, emphasizing that income did not accrue as the assessee did not have a vested right to receive the disputed amount. Additionally, the Tribunal found no nexus between borrowed funds and the earning of exempt income, leading to the deletion of the addition made under section 14A of the Act. The Court concluded that the impugned order did not raise any substantial question of law for interference, ultimately dismissing the Tax Appeal in favor of the assessee. en-us Wed, 13 Jul 2016 00:00:00 +0530 Sat, 23 Jul 2016 19:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330366 The High Court upheld the decision in favor of the assessee, emphasizing that income did not accrue as the assessee did not have a vested right to receive the disputed amount. Additionally, the Tribunal found no nexus between borrowed funds and the earning of exempt income, leading to the deletion of the addition made under section 14A of the Act. The Court concluded that the impugned order did not raise any substantial question of law for interference, ultimately dismissing the Tax Appeal in favor of the assessee. Case-Laws Income Tax Wed, 13 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330366