https://www.taxtmi.com/caselaws?id=273441 The appeal challenged the Income-tax Appellate Tribunal's order adding Rs. 1,40,06,686 under section 14A of the Income-tax Act, 1961. The Tribunal allowed the respondent's appeal, citing non-interest bearing funds exceeding the investment in tax-free shares and interest income. The Revenue's reference to a conflicting decision was adjourned pending Supreme Court judgment. The Tribunal's decision aligned with precedent, holding that no disallowance could be made if interest-free funds exceeded investments. The substantial question of law favored the respondent, upholding the Tribunal's decision, and the appeal was dismissed without costs. en-us Tue, 01 Aug 2017 00:00:00 +0530 Wed, 27 Jun 2018 07:27:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273441 The appeal challenged the Income-tax Appellate Tribunal's order adding Rs. 1,40,06,686 under section 14A of the Income-tax Act, 1961. The Tribunal allowed the respondent's appeal, citing non-interest bearing funds exceeding the investment in tax-free shares and interest income. The Revenue's reference to a conflicting decision was adjourned pending Supreme Court judgment. The Tribunal's decision aligned with precedent, holding that no disallowance could be made if interest-free funds exceeded investments. The substantial question of law favored the respondent, upholding the Tribunal's decision, and the appeal was dismissed without costs. Case-Laws Income Tax Tue, 01 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273441