https://www.taxtmi.com/caselaws?id=362493 The Tribunal partially allowed the assessee's appeal and dismissed the revenue's appeal concerning disallowances of interest under sections 14A and 36(1)(iii) of the Income Tax Act. The Tribunal directed the Assessing Officer to re-examine the disallowance under section 14A considering exempt income earned by the assessee and upheld the disallowance of interest under section 36(1)(iii) on a portion of the loan amount sourced from interest-free funds. The Tribunal stressed the importance of proper verification and adherence to legal provisions in such matters. en-us Mon, 25 Jun 2018 00:00:00 +0530 Wed, 27 Jun 2018 08:59:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362493 The Tribunal partially allowed the assessee's appeal and dismissed the revenue's appeal concerning disallowances of interest under sections 14A and 36(1)(iii) of the Income Tax Act. The Tribunal directed the Assessing Officer to re-examine the disallowance under section 14A considering exempt income earned by the assessee and upheld the disallowance of interest under section 36(1)(iii) on a portion of the loan amount sourced from interest-free funds. The Tribunal stressed the importance of proper verification and adherence to legal provisions in such matters. Case-Laws Income Tax Mon, 25 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362493