https://www.taxtmi.com/caselaws?id=365450 The High Court upheld the decision of the ITAT regarding the disallowance under Section 14A of the Income Tax Act, stating that the assessee had surplus interest-free funds and the AO failed to justify the disallowance. The appeals on this issue were dismissed. The High Court admitted appeals concerning the deduction under Section 80IA for generating power for captive consumption for further examination. Additionally, the High Court affirmed the ITAT's decision that the loss on the sale of fertilizer bonds should be treated as a business loss, dismissing the appeal on this issue. en-us Tue, 31 Jul 2018 00:00:00 +0530 Thu, 20 Dec 2018 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365450 The High Court upheld the decision of the ITAT regarding the disallowance under Section 14A of the Income Tax Act, stating that the assessee had surplus interest-free funds and the AO failed to justify the disallowance. The appeals on this issue were dismissed. The High Court admitted appeals concerning the deduction under Section 80IA for generating power for captive consumption for further examination. Additionally, the High Court affirmed the ITAT's decision that the loss on the sale of fertilizer bonds should be treated as a business loss, dismissing the appeal on this issue. Case-Laws Income Tax Tue, 31 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365450