https://www.taxtmi.com/caselaws?id=358591 The Appellate Tribunal partly allowed the appeal of the assessee regarding the disallowance of interest expenditure and the disallowance under section 14A of the Income Tax Act. The Tribunal held that the interest expenditure was allowable as a deduction since the advances were made for business purposes. It also ruled that no disallowance under section 14A was warranted for dividend income, except for a partial disallowance under Rule 8D(2). The Tribunal emphasized adherence to the law and business nexus in reaching a fair decision. en-us Fri, 06 Apr 2018 00:00:00 +0530 Sat, 14 Apr 2018 07:17:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358591 The Appellate Tribunal partly allowed the appeal of the assessee regarding the disallowance of interest expenditure and the disallowance under section 14A of the Income Tax Act. The Tribunal held that the interest expenditure was allowable as a deduction since the advances were made for business purposes. It also ruled that no disallowance under section 14A was warranted for dividend income, except for a partial disallowance under Rule 8D(2). The Tribunal emphasized adherence to the law and business nexus in reaching a fair decision. Case-Laws Income Tax Fri, 06 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358591