https://www.taxtmi.com/caselaws?id=331259 The Tribunal dismissed the revenue's appeals and allowed the assessee's appeal, affirming that interest expenses under section 57(iii) were deductible due to a direct nexus with borrowed funds. Various expenses treated as capital were deemed revenue in nature, leading to their deletion. Additionally, disallowance under section 14A was overturned as no exempt income was earned, supporting the strategic nature of investments. The Tribunal's decisions were based on the linkage between funds, the nature of expenses, and the purpose of investments. en-us Thu, 30 Jun 2016 00:00:00 +0530 Wed, 10 Apr 2019 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331259 The Tribunal dismissed the revenue's appeals and allowed the assessee's appeal, affirming that interest expenses under section 57(iii) were deductible due to a direct nexus with borrowed funds. Various expenses treated as capital were deemed revenue in nature, leading to their deletion. Additionally, disallowance under section 14A was overturned as no exempt income was earned, supporting the strategic nature of investments. The Tribunal's decisions were based on the linkage between funds, the nature of expenses, and the purpose of investments. Case-Laws Income Tax Thu, 30 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331259