https://www.taxtmi.com/caselaws?id=389865 The Tribunal directed the Assessing Officer to reexamine the disallowance under section 14A in light of relevant decisions and evidence provided by the appellant. The Tribunal upheld the disallowance of interest expenses related to strategic investments in subsidiaries but directed the exclusion of investments in foreign subsidiaries taxable for dividend income. The inclusion of strategic investments for disallowance was affirmed, with instructions to exclude investments generating taxable dividend income. The Tribunal emphasized that the disallowance under section 14A should not surpass the exempt income earned during the relevant year. The Tribunal partly allowed the appeals, instructing the AO to reassess the disallowance based on legal principles and evidence presented by the appellant. en-us Tue, 22 Oct 2019 00:00:00 +0530 Wed, 18 Dec 2019 14:22:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389865 The Tribunal directed the Assessing Officer to reexamine the disallowance under section 14A in light of relevant decisions and evidence provided by the appellant. The Tribunal upheld the disallowance of interest expenses related to strategic investments in subsidiaries but directed the exclusion of investments in foreign subsidiaries taxable for dividend income. The inclusion of strategic investments for disallowance was affirmed, with instructions to exclude investments generating taxable dividend income. The Tribunal emphasized that the disallowance under section 14A should not surpass the exempt income earned during the relevant year. The Tribunal partly allowed the appeals, instructing the AO to reassess the disallowance based on legal principles and evidence presented by the appellant. Case-Laws Income Tax Tue, 22 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389865