https://www.taxtmi.com/caselaws?id=192243 The Tribunal partially allowed both appeals. Regarding the disallowance under section 14A, it held that the disallowance should not exceed the tax-free income earned by the assessee. For the capitalization of interest under section 36(1)(iii), the Tribunal ruled in favor of the assessee, stating that the addition made by the Assessing Officer was unwarranted due to the absence of specific borrowings for the land purchase. en-us Mon, 30 Nov 2015 00:00:00 +0530 Mon, 22 May 2017 07:21:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192243 The Tribunal partially allowed both appeals. Regarding the disallowance under section 14A, it held that the disallowance should not exceed the tax-free income earned by the assessee. For the capitalization of interest under section 36(1)(iii), the Tribunal ruled in favor of the assessee, stating that the addition made by the Assessing Officer was unwarranted due to the absence of specific borrowings for the land purchase. Case-Laws Income Tax Mon, 30 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192243