https://www.taxtmi.com/caselaws?id=382728 The ITAT upheld the disallowance of interest expenditure under section 36(1)(iii) due to investments yielding exempt income. Classification of investments as non-current assets impacted tax treatment, leading to disallowance of related expenditure. Section 14A was deemed inapplicable as activities did not generate taxable income. The ITAT differentiated business income from investment activities, allowing interest expenditure to be carried forward for adjustment against income from investments. en-us Fri, 10 May 2019 00:00:00 +0530 Tue, 09 Jul 2019 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382728 The ITAT upheld the disallowance of interest expenditure under section 36(1)(iii) due to investments yielding exempt income. Classification of investments as non-current assets impacted tax treatment, leading to disallowance of related expenditure. Section 14A was deemed inapplicable as activities did not generate taxable income. The ITAT differentiated business income from investment activities, allowing interest expenditure to be carried forward for adjustment against income from investments. Case-Laws Income Tax Fri, 10 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382728