https://www.taxtmi.com/caselaws?id=191281 The Tribunal partly allowed the assessee's appeal, directing the deletion of disallowances made under sections 36(1)(iii) and 14A read with Rule 8D. The disallowance of interest expenditure under section 36(1)(iii) was overturned as the Tribunal found that the interest-free loans were provided from interest-free funds. Additionally, the enhanced disallowance under section 14A was also deleted as there was no nexus between borrowed funds and investments, supported by the availability of interest-free funds to cover the investments. en-us Tue, 19 Mar 2013 00:00:00 +0530 Tue, 28 Mar 2017 18:55:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191281 The Tribunal partly allowed the assessee's appeal, directing the deletion of disallowances made under sections 36(1)(iii) and 14A read with Rule 8D. The disallowance of interest expenditure under section 36(1)(iii) was overturned as the Tribunal found that the interest-free loans were provided from interest-free funds. Additionally, the enhanced disallowance under section 14A was also deleted as there was no nexus between borrowed funds and investments, supported by the availability of interest-free funds to cover the investments. Case-Laws Income Tax Tue, 19 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191281