https://www.taxtmi.com/caselaws?id=281262 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the disallowance under section 14A of the Income Tax Act, 1961. It was found that the assessee had sufficient interest-free funds to cover investments, and the Assessing Officer did not consider the net interest income available. Consequently, the disallowed amount was excluded from the book profit calculation for section 115JB, in line with previous decisions. The Tribunal concluded that the Revenue's appeal lacked merit and affirmed the CIT(A)'s decisions. en-us Mon, 03 Dec 2018 00:00:00 +0530 Tue, 11 Jun 2019 06:00:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281262 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the disallowance under section 14A of the Income Tax Act, 1961. It was found that the assessee had sufficient interest-free funds to cover investments, and the Assessing Officer did not consider the net interest income available. Consequently, the disallowed amount was excluded from the book profit calculation for section 115JB, in line with previous decisions. The Tribunal concluded that the Revenue's appeal lacked merit and affirmed the CIT(A)'s decisions. Case-Laws Income Tax Mon, 03 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281262