https://www.taxtmi.com/caselaws?id=186356 The assessee's appeal was allowed as the Tribunal found that the disallowance of interest under section 14A of the IT Act could not be made on mere presumption without establishing a nexus between the interest-bearing funds and the investments. The entire addition was deleted, as it was determined that the investments were made from non-interest-bearing funds. Additionally, the Revenue's appeal challenging the computation of deductions under sections 80HHC and 80-IA was dismissed by the Tribunal, upholding the CIT(A)'s directions based on the income assessed. en-us Fri, 04 Jul 2008 00:00:00 +0530 Thu, 15 Sep 2016 12:30:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186356 The assessee's appeal was allowed as the Tribunal found that the disallowance of interest under section 14A of the IT Act could not be made on mere presumption without establishing a nexus between the interest-bearing funds and the investments. The entire addition was deleted, as it was determined that the investments were made from non-interest-bearing funds. Additionally, the Revenue's appeal challenging the computation of deductions under sections 80HHC and 80-IA was dismissed by the Tribunal, upholding the CIT(A)'s directions based on the income assessed. Case-Laws Income Tax Fri, 04 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186356