https://www.taxtmi.com/caselaws?id=426899 The High Court dismissed the appeal filed by the revenue challenging the order related to the disallowance of interest on a loan under Section 14A of the Income Tax Act, inclusion of expenses related to investments in shares under Rule 8D, and computation of book profit under Section 115JB. The Court upheld the Tribunal's findings, emphasizing the lack of nexus between the loan and investments, the failure to prove the use of borrowed funds for share acquisition, and the absence of tax effect in the deletion of additions. The appeal and stay application were both dismissed. en-us Wed, 24 Aug 2022 00:00:00 +0530 Fri, 26 Aug 2022 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426899 The High Court dismissed the appeal filed by the revenue challenging the order related to the disallowance of interest on a loan under Section 14A of the Income Tax Act, inclusion of expenses related to investments in shares under Rule 8D, and computation of book profit under Section 115JB. The Court upheld the Tribunal's findings, emphasizing the lack of nexus between the loan and investments, the failure to prove the use of borrowed funds for share acquisition, and the absence of tax effect in the deletion of additions. The appeal and stay application were both dismissed. Case-Laws Income Tax Wed, 24 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426899