https://www.taxtmi.com/caselaws?id=394079 The Tribunal upheld the CIT(A)'s decisions on both the deduction under Section 80IAB(4)(iii) and the disallowance of expenses under Section 14A. It affirmed that the Assessee qualified for the deduction and had enough own funds to cover tax-free investments, leading to the deletion of the interest expense disallowance. The Tribunal dismissed the Revenue's appeal, emphasizing that the Assessee's interest expenses were for business purposes, not for making investments. en-us Fri, 06 Mar 2020 00:00:00 +0530 Tue, 31 Mar 2020 15:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394079 The Tribunal upheld the CIT(A)'s decisions on both the deduction under Section 80IAB(4)(iii) and the disallowance of expenses under Section 14A. It affirmed that the Assessee qualified for the deduction and had enough own funds to cover tax-free investments, leading to the deletion of the interest expense disallowance. The Tribunal dismissed the Revenue's appeal, emphasizing that the Assessee's interest expenses were for business purposes, not for making investments. Case-Laws Income Tax Fri, 06 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394079