https://www.taxtmi.com/caselaws?id=429055 SC dismissed the Revenue's appeal challenging deletion of disallowance under s.14A of the Income-tax Act. The assessee had sufficient interest-free own funds to cover the investments generating exempt income, and no nexus was established between borrowed funds and such investments. SC, following its earlier binding precedent on s.14A where availability of adequate own funds negates presumption of use of borrowed funds, held the disallowance unsustainable. Consequently, the assessee's position was upheld and the Revenue's appeal was rejected, with no order as to costs. en-us Thu, 01 Sep 2022 00:00:00 +0530 Wed, 10 Jun 2026 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429055 SC dismissed the Revenue's appeal challenging deletion of disallowance under s.14A of the Income-tax Act. The assessee had sufficient interest-free own funds to cover the investments generating exempt income, and no nexus was established between borrowed funds and such investments. SC, following its earlier binding precedent on s.14A where availability of adequate own funds negates presumption of use of borrowed funds, held the disallowance unsustainable. Consequently, the assessee's position was upheld and the Revenue's appeal was rejected, with no order as to costs. Case-Laws Income Tax Thu, 01 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429055