https://www.taxtmi.com/caselaws?id=382658 The Tribunal ruled in favor of the assessee, deleting the disallowance of Rs. 12,08,801 under section 14A r.w. Rule 8D(2)(ii) related to interest expenditure. The balance sheet demonstrated sufficient own interest-free funds to cover investments, indicating investments were made from non-interest bearing funds. Citing the Jurisdictional High Court precedent, the Tribunal allowed the appeal, pronouncing the order on July 2, 2019. en-us Tue, 02 Jul 2019 00:00:00 +0530 Mon, 08 Jul 2019 06:47:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382658 The Tribunal ruled in favor of the assessee, deleting the disallowance of Rs. 12,08,801 under section 14A r.w. Rule 8D(2)(ii) related to interest expenditure. The balance sheet demonstrated sufficient own interest-free funds to cover investments, indicating investments were made from non-interest bearing funds. Citing the Jurisdictional High Court precedent, the Tribunal allowed the appeal, pronouncing the order on July 2, 2019. Case-Laws Income Tax Tue, 02 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382658