https://www.taxtmi.com/caselaws?id=347409 The High Court dismissed the Revenue's appeal against the ITAT order for AY 2001-2002, which confirmed the deletion of additions by the AO for interest paid on borrowed funds for shares yielding exempt income and management/administrative expenses related to dividend income. The Court upheld the ITAT's decision, citing consistency with a prior ruling and emphasizing the need for reasonable basis in disallowances under Section 14A, even before Rule 8D. No questions of law were framed, and the appeal was dismissed without costs. en-us Wed, 23 Aug 2017 00:00:00 +0530 Wed, 30 Aug 2017 16:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347409 The High Court dismissed the Revenue's appeal against the ITAT order for AY 2001-2002, which confirmed the deletion of additions by the AO for interest paid on borrowed funds for shares yielding exempt income and management/administrative expenses related to dividend income. The Court upheld the ITAT's decision, citing consistency with a prior ruling and emphasizing the need for reasonable basis in disallowances under Section 14A, even before Rule 8D. No questions of law were framed, and the appeal was dismissed without costs. Case-Laws Income Tax Wed, 23 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347409