https://www.taxtmi.com/caselaws?id=295227 The Tribunal partly allowed the appeal for statistical purposes, emphasizing the importance of assessing the availability of the assessee's own funds at the time of investment to determine the disallowance under section 14A of the Income Tax Act, 1961. The Tribunal directed the Assessing Officer to re-examine if the assessee had sufficient own funds at the time of investment and to consider only investments yielding exempt income for computing the average value of investments. The orders of the lower authorities were set aside, and the matter was remitted back to the Assessing Officer for further review. en-us Mon, 05 Oct 2020 00:00:00 +0530 Tue, 25 May 2021 08:37:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295227 The Tribunal partly allowed the appeal for statistical purposes, emphasizing the importance of assessing the availability of the assessee's own funds at the time of investment to determine the disallowance under section 14A of the Income Tax Act, 1961. The Tribunal directed the Assessing Officer to re-examine if the assessee had sufficient own funds at the time of investment and to consider only investments yielding exempt income for computing the average value of investments. The orders of the lower authorities were set aside, and the matter was remitted back to the Assessing Officer for further review. Case-Laws Income Tax Mon, 05 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295227