https://www.taxtmi.com/caselaws?id=342786 The Tribunal partly allowed the assessee's appeal for statistical purposes, directing the Assessing Officer (AO) to re-examine the disallowance of interest under section 36(1)(iii). The disallowance under section 14A and the assessment of Clean Development Mechanism (CDM) receipts as business income were confirmed. The Tribunal emphasized the burden of proof on the assessee to establish the business use of borrowed funds and upheld the disallowances based on lack of evidence and clarity on business activities. en-us Fri, 24 Mar 2017 00:00:00 +0530 Wed, 10 May 2017 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342786 The Tribunal partly allowed the assessee's appeal for statistical purposes, directing the Assessing Officer (AO) to re-examine the disallowance of interest under section 36(1)(iii). The disallowance under section 14A and the assessment of Clean Development Mechanism (CDM) receipts as business income were confirmed. The Tribunal emphasized the burden of proof on the assessee to establish the business use of borrowed funds and upheld the disallowances based on lack of evidence and clarity on business activities. Case-Laws Income Tax Fri, 24 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342786