https://www.taxtmi.com/caselaws?id=277710 The Tribunal allowed ITA No. 978/Ind/2016 and partly allowed ITA No. 976/Ind/2016 on 18 July 2018. The disallowance of interest expenditure under section 14A of the IT Act, 1961 related to the purchase of agricultural land was overturned as no exempt income was earned. Additionally, the disallowance of interest on advances to directors was deleted due to lack of specific details and the appellant's sufficient interest-free capital. While the disallowance under section 14A on the purchase of agricultural land was mostly rejected, a partial disallowance for certain administrative expenditures was upheld. en-us Wed, 18 Jul 2018 00:00:00 +0530 Wed, 19 Dec 2018 06:48:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277710 The Tribunal allowed ITA No. 978/Ind/2016 and partly allowed ITA No. 976/Ind/2016 on 18 July 2018. The disallowance of interest expenditure under section 14A of the IT Act, 1961 related to the purchase of agricultural land was overturned as no exempt income was earned. Additionally, the disallowance of interest on advances to directors was deleted due to lack of specific details and the appellant's sufficient interest-free capital. While the disallowance under section 14A on the purchase of agricultural land was mostly rejected, a partial disallowance for certain administrative expenditures was upheld. Case-Laws Income Tax Wed, 18 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277710