https://www.taxtmi.com/caselaws?id=380718 The appeal filed by the Assessee challenged the addition made by the Assessing Officer under section 14A read with Rule 8D of the Income Tax Act, 1961. The Tribunal ruled that no disallowance should be made if interest-free funds were sufficient to meet investments, and directed the exclusion of investments not yielding exempt dividend income. Regarding the addition on account of interest paid to loan creditors, the Tribunal allowed the appeal for statistical purposes, instructing the Assessing Officer to reconsider the issue considering the evidence submitted by the Assessee. Ultimately, the appeal was allowed for statistical purposes. en-us Fri, 24 May 2019 00:00:00 +0530 Sat, 25 May 2019 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380718 The appeal filed by the Assessee challenged the addition made by the Assessing Officer under section 14A read with Rule 8D of the Income Tax Act, 1961. The Tribunal ruled that no disallowance should be made if interest-free funds were sufficient to meet investments, and directed the exclusion of investments not yielding exempt dividend income. Regarding the addition on account of interest paid to loan creditors, the Tribunal allowed the appeal for statistical purposes, instructing the Assessing Officer to reconsider the issue considering the evidence submitted by the Assessee. Ultimately, the appeal was allowed for statistical purposes. Case-Laws Income Tax Fri, 24 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380718