https://www.taxtmi.com/caselaws?id=400458 The Tribunal dismissed both appeals by the Revenue. The delay in filing appeals was condoned, and they were admitted for adjudication. Regarding the deletion of interest on debtors, the Tribunal upheld the deletion of accrued interest addition. In the case of disallowance of expenditure under section 14A, the Tribunal ruled in favor of the appellant, stating no disallowance could be made as no expenditure was debited to the P&L account and the investment was from interest-free funds. The decisions of the CIT(A) were also upheld. en-us Wed, 28 Oct 2020 00:00:00 +0530 Sat, 07 Nov 2020 17:10:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400458 The Tribunal dismissed both appeals by the Revenue. The delay in filing appeals was condoned, and they were admitted for adjudication. Regarding the deletion of interest on debtors, the Tribunal upheld the deletion of accrued interest addition. In the case of disallowance of expenditure under section 14A, the Tribunal ruled in favor of the appellant, stating no disallowance could be made as no expenditure was debited to the P&L account and the investment was from interest-free funds. The decisions of the CIT(A) were also upheld. Case-Laws Income Tax Wed, 28 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400458