https://www.taxtmi.com/caselaws?id=294790 The Tribunal partly allowed the appeal, ruling that the disallowance of interest expenses under Section 14A was unsustainable as the assessee's investments in shares were presumed to be from surplus funds unless proven otherwise. The disallowance of administrative and indirect expenses was set aside for fresh computation by the AO, emphasizing the need for proper consideration of the assessee's accounts and principles of natural justice. The AO was directed to recompute the disallowance in accordance with the law and principles of natural justice. en-us Thu, 08 Sep 2016 00:00:00 +0530 Mon, 03 May 2021 21:01:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294790 The Tribunal partly allowed the appeal, ruling that the disallowance of interest expenses under Section 14A was unsustainable as the assessee's investments in shares were presumed to be from surplus funds unless proven otherwise. The disallowance of administrative and indirect expenses was set aside for fresh computation by the AO, emphasizing the need for proper consideration of the assessee's accounts and principles of natural justice. The AO was directed to recompute the disallowance in accordance with the law and principles of natural justice. Case-Laws Income Tax Thu, 08 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294790