https://www.taxtmi.com/caselaws?id=404713 The Tribunal partially allowed the appeal concerning disallowance under section 14A of the Income Tax Act for Assessment Year 2013-14. It held that no disallowance of interest under Rule 8D(2)(ii) was warranted as investments were made out of interest-free funds. However, the disallowance under Rule 8D(2)(iii) was upheld. The decision emphasized the importance of assessing each year independently and clarified that investments from interest-free sources should not trigger disallowances related to interest expenses. The Tribunal's ruling provided clarity on the treatment of such disallowances under section 14A. en-us Wed, 17 Feb 2021 00:00:00 +0530 Tue, 02 Mar 2021 08:18:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404713 The Tribunal partially allowed the appeal concerning disallowance under section 14A of the Income Tax Act for Assessment Year 2013-14. It held that no disallowance of interest under Rule 8D(2)(ii) was warranted as investments were made out of interest-free funds. However, the disallowance under Rule 8D(2)(iii) was upheld. The decision emphasized the importance of assessing each year independently and clarified that investments from interest-free sources should not trigger disallowances related to interest expenses. The Tribunal's ruling provided clarity on the treatment of such disallowances under section 14A. Case-Laws Income Tax Wed, 17 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404713