https://www.taxtmi.com/caselaws?id=195636 The Tribunal partially allowed the Revenue's appeal concerning the disallowance of interest under Section 14A of the Income Tax Act. The Tribunal upheld the deletion of certain disallowances under Rule 8D(ii) due to factual findings of own funds exceeding investments and borrowed funds being used for business purposes. However, the disallowance under Rule 8D(iii) was limited to Rs. 31.85 lacs, reflecting the total administrative expenses debited to the profit and loss account. The decision emphasized the authorities' discretion in reducing disallowance amounts and provided detailed reasoning based on factual and legal analysis. en-us Tue, 03 Nov 2015 00:00:00 +0530 Mon, 06 Nov 2017 21:04:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195636 The Tribunal partially allowed the Revenue's appeal concerning the disallowance of interest under Section 14A of the Income Tax Act. The Tribunal upheld the deletion of certain disallowances under Rule 8D(ii) due to factual findings of own funds exceeding investments and borrowed funds being used for business purposes. However, the disallowance under Rule 8D(iii) was limited to Rs. 31.85 lacs, reflecting the total administrative expenses debited to the profit and loss account. The decision emphasized the authorities' discretion in reducing disallowance amounts and provided detailed reasoning based on factual and legal analysis. Case-Laws Income Tax Tue, 03 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195636