https://www.taxtmi.com/caselaws?id=361863 The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal in part. The disallowance under section 14A was directed to be based on net interest expenditure, considering interest earned. The expenditure on civil work was deemed revenue in nature by the Tribunal, supporting the assessee's position. The Tribunal directed the AO to recompute the disallowance on net interest expenditure and upheld the treatment of civil work expenses as revenue, in line with judicial pronouncements. en-us Tue, 12 Jun 2018 00:00:00 +0530 Fri, 15 Jun 2018 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361863 The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal in part. The disallowance under section 14A was directed to be based on net interest expenditure, considering interest earned. The expenditure on civil work was deemed revenue in nature by the Tribunal, supporting the assessee's position. The Tribunal directed the AO to recompute the disallowance on net interest expenditure and upheld the treatment of civil work expenses as revenue, in line with judicial pronouncements. Case-Laws Income Tax Tue, 12 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361863