https://www.taxtmi.com/caselaws?id=281321 The Tribunal directed fresh adjudication by the Assessing Officer for the proportionate disallowance of interest in respect of security deposit, allowing the assessee an opportunity for reconciliation. The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the disallowance under Section 14A, confirming that Rule 8D was not applicable as the interest expenses were not related to borrowed funds. Additionally, the Tribunal upheld the deletion of the addition due to changes in accounting policy, emphasizing adherence to accounting standards and fair treatment of the assessee's claims and expenses. en-us Mon, 31 Jul 2017 00:00:00 +0530 Fri, 14 Jun 2019 06:36:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281321 The Tribunal directed fresh adjudication by the Assessing Officer for the proportionate disallowance of interest in respect of security deposit, allowing the assessee an opportunity for reconciliation. The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the disallowance under Section 14A, confirming that Rule 8D was not applicable as the interest expenses were not related to borrowed funds. Additionally, the Tribunal upheld the deletion of the addition due to changes in accounting policy, emphasizing adherence to accounting standards and fair treatment of the assessee's claims and expenses. Case-Laws Income Tax Mon, 31 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281321