https://www.taxtmi.com/caselaws?id=356504 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of expenses under section 14A applying Rule 8D for Assessment Year 2009-10. The Tribunal emphasized considering net interest expenditure in cases involving interest income and expenses, confirming that no further interest disallowance should be made beyond the net interest expenditure. Therefore, the Revenue's appeal was dismissed, affirming the importance of such consideration in determining allowable expenses. en-us Fri, 15 Dec 2017 00:00:00 +0530 Wed, 07 Mar 2018 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356504 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of expenses under section 14A applying Rule 8D for Assessment Year 2009-10. The Tribunal emphasized considering net interest expenditure in cases involving interest income and expenses, confirming that no further interest disallowance should be made beyond the net interest expenditure. Therefore, the Revenue's appeal was dismissed, affirming the importance of such consideration in determining allowable expenses. Case-Laws Income Tax Fri, 15 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356504