https://www.taxtmi.com/caselaws?id=344330 The High Court upheld the Tribunal's decisions in dismissing the Revenue's appeal. It found that the disallowance under Section 14A was unjustified as the assessee had ample interest-free funds and the investments were not generating exempt income. Additionally, the consultancy charges were deemed revenue expenditure under Section 37, as they were not directly linked to acquiring investments but rather managing them. The Court concluded that no substantial question of law merited further review, affirming the Tribunal's rulings on both issues. en-us Thu, 04 May 2017 00:00:00 +0530 Thu, 31 May 2018 16:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344330 The High Court upheld the Tribunal's decisions in dismissing the Revenue's appeal. It found that the disallowance under Section 14A was unjustified as the assessee had ample interest-free funds and the investments were not generating exempt income. Additionally, the consultancy charges were deemed revenue expenditure under Section 37, as they were not directly linked to acquiring investments but rather managing them. The Court concluded that no substantial question of law merited further review, affirming the Tribunal's rulings on both issues. Case-Laws Income Tax Thu, 04 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344330