Interest Expense Disallowance Not Applicable for Assessee with Sufficient Interest-Free Funds u/s 14A(2) of Income Tax Act.

Interest Expense Disallowance Not Applicable for Assessee with Sufficient Interest-Free Funds u/s 14A(2) of Income Tax Act. https://www.taxtmi.com/highlights?id=47102 Disallowance u/s 14A - when assessee has huge interest-free funds available which can take care of investment made by the assessee - assessee had shown interest expenses of ₹ 10. 99 crores as against interest income of ₹ 20. 99 crores - in such situation, as per sub-clause(2) to Section 14A he could not make disallowance out of interest expenditure en-us Tue, 11 Jun 2019 06:00:33 +0530 Tue, 11 Jun 2019 06:00:33 +0530 TaxTMI RSS Generator Interest Expense Disallowance Not Applicable for Assessee with Sufficient Interest-Free Funds u/s 14A(2) of Income Tax Act. https://www.taxtmi.com/highlights?id=47102 Disallowance u/s 14A - when assessee has huge interest-free funds available which can take care of investment made by the assessee - assessee had shown interest expenses of ₹ 10. 99 crores as against interest income of ₹ 20. 99 crores - in such situation, as per sub-clause(2) to Section 14A he could not make disallowance out of interest expenditure Highlights Income Tax Tue, 11 Jun 2019 06:00:33 +0530 https://www.taxtmi.com/highlights?id=47102