https://www.taxtmi.com/caselaws?id=299790 The Tribunal upheld the CIT(A)'s decision to allow the deduction of interest expenditure against interest earned on capital investment in a partnership firm for the Assessment Year 2006-07. The revenue's appeal challenging the allowance of interest expenditure disallowed under sec. 14A r.w.r 8D of IT Rules was dismissed. The Tribunal found a direct and sole relation between the interest expenditure and income earned, concluding that no disallowance was warranted under sec. 14A. en-us Wed, 29 Jun 2011 00:00:00 +0530 Wed, 29 Dec 2021 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299790 The Tribunal upheld the CIT(A)'s decision to allow the deduction of interest expenditure against interest earned on capital investment in a partnership firm for the Assessment Year 2006-07. The revenue's appeal challenging the allowance of interest expenditure disallowed under sec. 14A r.w.r 8D of IT Rules was dismissed. The Tribunal found a direct and sole relation between the interest expenditure and income earned, concluding that no disallowance was warranted under sec. 14A. Case-Laws Income Tax Wed, 29 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299790