https://www.taxtmi.com/caselaws?id=343479 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions. The disallowance under Section 14A read with Rule 8D was deemed unjustified as investments were made from personal funds. The disallowance of retention money/security deposit was invalidated due to the contingent nature of income. The interest income from fixed deposits was rightly treated as business income due to its necessity for securing contracts. en-us Wed, 24 May 2017 00:00:00 +0530 Fri, 26 May 2017 07:11:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343479 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions. The disallowance under Section 14A read with Rule 8D was deemed unjustified as investments were made from personal funds. The disallowance of retention money/security deposit was invalidated due to the contingent nature of income. The interest income from fixed deposits was rightly treated as business income due to its necessity for securing contracts. Case-Laws Income Tax Wed, 24 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343479