https://www.taxtmi.com/caselaws?id=340751 The High Court dismissed both appeals challenging the disallowance of interest payment on interest-free loans and interest attributed under section 14A. The Court upheld the Tribunal's decision, emphasizing the availability of surplus interest-free funds negating the need for disallowance under section 36(1)(iii) and the presumption in favor of using interest-free funds for investments under section 14A. The judgments were based on thorough analysis, legal provisions, and relevant case law, leading to a fair and reasoned decision without any substantial question of law arising in either issue. en-us Wed, 08 Mar 2017 00:00:00 +0530 Sat, 18 Nov 2017 14:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340751 The High Court dismissed both appeals challenging the disallowance of interest payment on interest-free loans and interest attributed under section 14A. The Court upheld the Tribunal's decision, emphasizing the availability of surplus interest-free funds negating the need for disallowance under section 36(1)(iii) and the presumption in favor of using interest-free funds for investments under section 14A. The judgments were based on thorough analysis, legal provisions, and relevant case law, leading to a fair and reasoned decision without any substantial question of law arising in either issue. Case-Laws Income Tax Wed, 08 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340751