https://www.taxtmi.com/caselaws?id=355919 The Tribunal upheld the CIT(A)'s decision, ruling that no disallowance of interest expenses under Section 14A read with Rule 8D(2)(ii) was necessary as the assessee's own funds adequately covered its investments. Additionally, the disallowance under Section 14A read with Rule 8D(2)(iii) should not include investments in Compulsorily Convertible Debentures (CCDs) that generate taxable income. The revenue's appeal was dismissed, affirming the CIT(A)'s order. en-us Wed, 14 Feb 2018 00:00:00 +0530 Wed, 21 Feb 2018 06:29:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355919 The Tribunal upheld the CIT(A)'s decision, ruling that no disallowance of interest expenses under Section 14A read with Rule 8D(2)(ii) was necessary as the assessee's own funds adequately covered its investments. Additionally, the disallowance under Section 14A read with Rule 8D(2)(iii) should not include investments in Compulsorily Convertible Debentures (CCDs) that generate taxable income. The revenue's appeal was dismissed, affirming the CIT(A)'s order. Case-Laws Income Tax Wed, 14 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355919