https://www.taxtmi.com/caselaws?id=422037 The Appellate Tribunal ITAT Pune partially allowed the appeal by reducing the disallowance of interest amount to Rs.47,38,541 and confirming the addition of Rs.2,95,996 under section 14A of the Income-tax Act. The Tribunal found a direct nexus between the withdrawals and investments, leading to the creation of artificial interest income, resulting in the reduction of the disallowance amount. The judgment was pronounced on 4th May 2022, with detailed analysis provided for each issue raised in the appeal. en-us Wed, 04 May 2022 00:00:00 +0530 Sat, 07 May 2022 06:35:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422037 The Appellate Tribunal ITAT Pune partially allowed the appeal by reducing the disallowance of interest amount to Rs.47,38,541 and confirming the addition of Rs.2,95,996 under section 14A of the Income-tax Act. The Tribunal found a direct nexus between the withdrawals and investments, leading to the creation of artificial interest income, resulting in the reduction of the disallowance amount. The judgment was pronounced on 4th May 2022, with detailed analysis provided for each issue raised in the appeal. Case-Laws Income Tax Wed, 04 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422037