https://www.taxtmi.com/caselaws?id=393285 The Tribunal allowed the appeal in ITA No. 2286/Bang/18, as no exempt income was earned, leading to the deletion of the disallowance under Section 14A. In ITA No. 2287/Bang/18, the disallowance under Section 14A was restricted to the amount of exempt income earned by the Assessee. Regarding the disallowance of interest expenses under Section 36(1)(iii), the Assessee failed to prove the business purpose of certain loans, resulting in the disallowance being upheld in specific cases. Overall, ITA No. 2286/Bang/18 was allowed, while ITA No. 2287/Bang/18 was partly allowed. en-us Fri, 06 Mar 2020 00:00:00 +0530 Mon, 09 Mar 2020 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393285 The Tribunal allowed the appeal in ITA No. 2286/Bang/18, as no exempt income was earned, leading to the deletion of the disallowance under Section 14A. In ITA No. 2287/Bang/18, the disallowance under Section 14A was restricted to the amount of exempt income earned by the Assessee. Regarding the disallowance of interest expenses under Section 36(1)(iii), the Assessee failed to prove the business purpose of certain loans, resulting in the disallowance being upheld in specific cases. Overall, ITA No. 2286/Bang/18 was allowed, while ITA No. 2287/Bang/18 was partly allowed. Case-Laws Income Tax Fri, 06 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393285