https://www.taxtmi.com/caselaws?id=193868 The Tribunal concluded that the interest expenditure of Rs. 34,92,373/- incurred by the assessee on borrowed funds, used for investments generating exempt dividend income, cannot be deducted under Section 14A of the Income Tax Act. It emphasized that the disallowance applies regardless of actual income earned. The Revenue's appeal was allowed, vacating the CIT(A)'s decision. en-us Fri, 23 May 2008 00:00:00 +0530 Thu, 19 Dec 2024 14:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193868 The Tribunal concluded that the interest expenditure of Rs. 34,92,373/- incurred by the assessee on borrowed funds, used for investments generating exempt dividend income, cannot be deducted under Section 14A of the Income Tax Act. It emphasized that the disallowance applies regardless of actual income earned. The Revenue's appeal was allowed, vacating the CIT(A)'s decision. Case-Laws Income Tax Fri, 23 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193868