https://www.taxtmi.com/caselaws?id=353963 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision on both issues. The disallowance of interest expense was limited to Rs. 78,000 under Section 40A(2)(b), and the disallowance under Section 14A was restricted to Rs. 15,500. The Tribunal found in favor of the assessee, emphasizing the commercial expediency of investments and the adequacy of own funds to support the decision. The Tribunal's ruling was grounded in factual accuracy and adherence to legal principles. en-us Fri, 01 Dec 2017 00:00:00 +0530 Tue, 16 Jan 2018 09:24:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353963 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision on both issues. The disallowance of interest expense was limited to Rs. 78,000 under Section 40A(2)(b), and the disallowance under Section 14A was restricted to Rs. 15,500. The Tribunal found in favor of the assessee, emphasizing the commercial expediency of investments and the adequacy of own funds to support the decision. The Tribunal's ruling was grounded in factual accuracy and adherence to legal principles. Case-Laws Income Tax Fri, 01 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353963