https://www.taxtmi.com/caselaws?id=425227 The Tribunal allowed the appeal of the assessee for Assessment Year 2015-16, overturning the disallowance of interest under section 14A r.w Rule 8D(2)(ii) and prorata interest expenses under section 14A. The Tribunal held that no disallowance was warranted as investments were made from non-interest bearing funds, and there was no legal basis for re-computation of disallowance. The order was pronounced on 5th July 2022, in favor of the assessee. en-us Sun, 05 Jun 2022 00:00:00 +0530 Mon, 18 Jul 2022 07:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425227 The Tribunal allowed the appeal of the assessee for Assessment Year 2015-16, overturning the disallowance of interest under section 14A r.w Rule 8D(2)(ii) and prorata interest expenses under section 14A. The Tribunal held that no disallowance was warranted as investments were made from non-interest bearing funds, and there was no legal basis for re-computation of disallowance. The order was pronounced on 5th July 2022, in favor of the assessee. Case-Laws Income Tax Sun, 05 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425227