https://www.taxtmi.com/caselaws?id=363274 The tribunal directed the issue back to the AO for verification of the availability of own interest-free funds during the relevant year, citing that if own funds exceed investments in securities capable of yielding exempt income, no disallowance should be made unless rebutted with evidence. The AO was instructed to provide the assessee with a reasonable opportunity to be heard and to seek necessary evidence to support contentions. The appeal of the Revenue was allowed for statistical purposes. en-us Fri, 06 Jul 2018 00:00:00 +0530 Tue, 10 Jul 2018 09:43:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363274 The tribunal directed the issue back to the AO for verification of the availability of own interest-free funds during the relevant year, citing that if own funds exceed investments in securities capable of yielding exempt income, no disallowance should be made unless rebutted with evidence. The AO was instructed to provide the assessee with a reasonable opportunity to be heard and to seek necessary evidence to support contentions. The appeal of the Revenue was allowed for statistical purposes. Case-Laws Income Tax Fri, 06 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363274