https://www.taxtmi.com/caselaws?id=367507 The Tribunal dismissed the Revenue's appeals challenging the deletion of disallowances of finance charges on interest-free loans to subsidiaries and under section 14A r.w.r 8D of the Act. The Tribunal emphasized the lack of commercial expediency in providing interest-free loans and the absence of exempt income for disallowance under section 14A. Precedents, including the Delhi High Court's decision in Modi Rubber, supported the Tribunal's rulings, highlighting the necessity of a direct nexus between funds and advances, as well as the requirement of exempt income for disallowance under section 14A. en-us Wed, 19 Sep 2018 00:00:00 +0530 Fri, 21 Sep 2018 08:26:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367507 The Tribunal dismissed the Revenue's appeals challenging the deletion of disallowances of finance charges on interest-free loans to subsidiaries and under section 14A r.w.r 8D of the Act. The Tribunal emphasized the lack of commercial expediency in providing interest-free loans and the absence of exempt income for disallowance under section 14A. Precedents, including the Delhi High Court's decision in Modi Rubber, supported the Tribunal's rulings, highlighting the necessity of a direct nexus between funds and advances, as well as the requirement of exempt income for disallowance under section 14A. Case-Laws Income Tax Wed, 19 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367507