https://www.taxtmi.com/caselaws?id=411937 The Tribunal upheld the CIT(A)'s decisions on both issues, dismissing the revenue's appeal. Regarding interest disallowance under Section 36(1)(iii), the Tribunal found that the loans were granted out of commercial expediency for business purposes. In the case of disallowance under Section 14A, the Tribunal ruled that the assessee's suo-moto disallowance was reasonable, and no further disallowance was warranted for routine corporate expenditure. en-us Wed, 01 Sep 2021 00:00:00 +0530 Tue, 07 Sep 2021 08:04:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411937 The Tribunal upheld the CIT(A)'s decisions on both issues, dismissing the revenue's appeal. Regarding interest disallowance under Section 36(1)(iii), the Tribunal found that the loans were granted out of commercial expediency for business purposes. In the case of disallowance under Section 14A, the Tribunal ruled that the assessee's suo-moto disallowance was reasonable, and no further disallowance was warranted for routine corporate expenditure. Case-Laws Income Tax Wed, 01 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411937