https://www.taxtmi.com/caselaws?id=388677 The Tribunal upheld the CIT(A)'s decision to proportionately disallow interest expenditure, based on the ratio of tax-exempt income to taxable income. The appeal was partly allowed, granting relief of Rs. 3,70,160/- to the assessee. The Tribunal found no grounds to overturn the CIT(A)'s ruling and dismissed the appeal. The decision was rendered on 15th November 2019. en-us Fri, 15 Nov 2019 00:00:00 +0530 Wed, 20 Nov 2019 12:21:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388677 The Tribunal upheld the CIT(A)'s decision to proportionately disallow interest expenditure, based on the ratio of tax-exempt income to taxable income. The appeal was partly allowed, granting relief of Rs. 3,70,160/- to the assessee. The Tribunal found no grounds to overturn the CIT(A)'s ruling and dismissed the appeal. The decision was rendered on 15th November 2019. Case-Laws Income Tax Fri, 15 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388677