https://www.taxtmi.com/caselaws?id=281821 The Tribunal allowed the appeal, modifying the order to delete the disallowance of interest expenditure under Rule 8D(2)(ii) of the Income Tax Rules. The appellant, engaged in fertilizer manufacturing and sales, argued that investments were made from interest-free funds, supported by a High Court decision establishing a presumption against disallowance in such cases. The Tribunal accepted this argument, overturning the Commissioner's order and ruling in favor of the appellant. en-us Fri, 28 Sep 2018 00:00:00 +0530 Mon, 08 Jul 2019 06:39:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281821 The Tribunal allowed the appeal, modifying the order to delete the disallowance of interest expenditure under Rule 8D(2)(ii) of the Income Tax Rules. The appellant, engaged in fertilizer manufacturing and sales, argued that investments were made from interest-free funds, supported by a High Court decision establishing a presumption against disallowance in such cases. The Tribunal accepted this argument, overturning the Commissioner's order and ruling in favor of the appellant. Case-Laws Income Tax Fri, 28 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281821