https://www.taxtmi.com/caselaws?id=337598 The Tribunal upheld the First Appellate Authority's decisions in both issues, dismissing the appeal filed by the Assessing Officer. The Tribunal found the addition of notional interest by the AO not sustainable as there was no evidence of charging interest by the assessee. Regarding the disallowance made under section 14A of the Act, the Tribunal agreed with the FAA's decision to restrict the disallowance to the extent claimed against exempt income, preventing double benefit for the assessee. en-us Fri, 06 Jan 2017 00:00:00 +0530 Tue, 10 Jan 2017 20:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337598 The Tribunal upheld the First Appellate Authority's decisions in both issues, dismissing the appeal filed by the Assessing Officer. The Tribunal found the addition of notional interest by the AO not sustainable as there was no evidence of charging interest by the assessee. Regarding the disallowance made under section 14A of the Act, the Tribunal agreed with the FAA's decision to restrict the disallowance to the extent claimed against exempt income, preventing double benefit for the assessee. Case-Laws Income Tax Fri, 06 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337598