https://www.taxtmi.com/caselaws?id=380957 The ITAT Mumbai allowed the appeal, directing the Assessing Officer to restrict the disallowance under section 14A to the amount voluntarily disallowed by the assessee and deleting the disallowance of interest expenditure under section 36(1)(iii) based on the presumption that investments were made from surplus funds. The judgment emphasized adherence to legal provisions and established precedents in determining disallowances under the Income Tax Act. en-us Fri, 24 May 2019 00:00:00 +0530 Sat, 01 Jun 2019 07:55:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380957 The ITAT Mumbai allowed the appeal, directing the Assessing Officer to restrict the disallowance under section 14A to the amount voluntarily disallowed by the assessee and deleting the disallowance of interest expenditure under section 36(1)(iii) based on the presumption that investments were made from surplus funds. The judgment emphasized adherence to legal provisions and established precedents in determining disallowances under the Income Tax Act. Case-Laws Income Tax Fri, 24 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380957