https://www.taxtmi.com/caselaws?id=272483 The tribunal partially allowed the appeal, emphasizing the importance of establishing a clear connection between expenses claimed and income earned to avoid disallowances under the relevant provisions of the Act. The disallowance of finance charges of Rs. 6,54,509 under section 36(1)(iii) was confirmed as the nexus between the interest expenditure and income earned was not proven. However, the disallowance made under section 14A of the Act was partially overturned, with the tribunal directing the deletion of expenses of Rs. 2,81,826 not linked to the dividend income. en-us Wed, 14 Oct 2015 00:00:00 +0530 Sat, 05 May 2018 06:51:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272483 The tribunal partially allowed the appeal, emphasizing the importance of establishing a clear connection between expenses claimed and income earned to avoid disallowances under the relevant provisions of the Act. The disallowance of finance charges of Rs. 6,54,509 under section 36(1)(iii) was confirmed as the nexus between the interest expenditure and income earned was not proven. However, the disallowance made under section 14A of the Act was partially overturned, with the tribunal directing the deletion of expenses of Rs. 2,81,826 not linked to the dividend income. Case-Laws Income Tax Wed, 14 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272483