https://www.taxtmi.com/caselaws?id=275019 The Appellate Tribunal ITAT Mumbai ruled in favor of the appellant in a case involving disallowances under section 14A of the Income Tax Act and premium paid on an insurance policy. The Tribunal held that the disallowance on interest under section 14A should be deleted as the appellant's own funds were deemed sufficient to cover investments, citing precedents like Reliance Utilities Ltd. and HDFC Bank Ltd. However, the matter of premium paid on the insurance policy for the Managing Director was remanded to the AO for further examination due to insufficient evidence on the policy's benefit to the company. en-us Mon, 18 Dec 2017 00:00:00 +0530 Sat, 15 Sep 2018 10:05:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275019 The Appellate Tribunal ITAT Mumbai ruled in favor of the appellant in a case involving disallowances under section 14A of the Income Tax Act and premium paid on an insurance policy. The Tribunal held that the disallowance on interest under section 14A should be deleted as the appellant's own funds were deemed sufficient to cover investments, citing precedents like Reliance Utilities Ltd. and HDFC Bank Ltd. However, the matter of premium paid on the insurance policy for the Managing Director was remanded to the AO for further examination due to insufficient evidence on the policy's benefit to the company. Case-Laws Income Tax Mon, 18 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275019