https://www.taxtmi.com/caselaws?id=297132 The Tribunal allowed the appeal of the assessee, setting aside the orders of the AO and CIT(A). The disallowance of interest on borrowed funds and the disallowance of expenditure under Section 14A were both overturned. The Tribunal emphasized the principles of commercial expediency and the necessity of actual receipt of exempt income for disallowance under Section 14A. en-us Fri, 27 Jan 2017 00:00:00 +0530 Sat, 21 Aug 2021 08:31:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297132 The Tribunal allowed the appeal of the assessee, setting aside the orders of the AO and CIT(A). The disallowance of interest on borrowed funds and the disallowance of expenditure under Section 14A were both overturned. The Tribunal emphasized the principles of commercial expediency and the necessity of actual receipt of exempt income for disallowance under Section 14A. Case-Laws Income Tax Fri, 27 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297132