https://www.taxtmi.com/caselaws?id=355732 The Court upheld the deletion of interest expenditure disallowance under Section 14A, finding the loan was not for earning exempt income. The determination of annual property value under Section 23(1)(b) was challenged, with the Court admitting the appeal for further review. The restriction of helicopter expenses disallowance was limited to 1/7 of the total amount, pending a comprehensive review. The judgment emphasized factual findings, legal precedents, and proper rule application under the Income Tax Act, 1961. en-us Mon, 15 Jan 2018 00:00:00 +0530 Sat, 17 Feb 2018 06:45:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355732 The Court upheld the deletion of interest expenditure disallowance under Section 14A, finding the loan was not for earning exempt income. The determination of annual property value under Section 23(1)(b) was challenged, with the Court admitting the appeal for further review. The restriction of helicopter expenses disallowance was limited to 1/7 of the total amount, pending a comprehensive review. The judgment emphasized factual findings, legal precedents, and proper rule application under the Income Tax Act, 1961. Case-Laws Income Tax Mon, 15 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355732