https://www.taxtmi.com/caselaws?id=310424 The Court dismissed the Tax Appeal, confirming the Appellate Tribunal's decision. The Tribunal restricted the disallowance under Section 14A to Rs.2.40 lacs, acknowledging the assessee's sufficient interest-free funds. It upheld the assessee's claim for bad debt under Section 36(1)(viii), related to hire purchase and lease transactions. The claim for depreciation on leased assets was addressed in a separate order. The Court found no further need to consider the impact on income computation under Section 115JB, as the disallowance under Section 14A was confirmed. en-us Sun, 13 Aug 2023 00:00:00 +0530 Tue, 24 Oct 2023 10:31:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310424 The Court dismissed the Tax Appeal, confirming the Appellate Tribunal's decision. The Tribunal restricted the disallowance under Section 14A to Rs.2.40 lacs, acknowledging the assessee's sufficient interest-free funds. It upheld the assessee's claim for bad debt under Section 36(1)(viii), related to hire purchase and lease transactions. The claim for depreciation on leased assets was addressed in a separate order. The Court found no further need to consider the impact on income computation under Section 115JB, as the disallowance under Section 14A was confirmed. Case-Laws Income Tax Sun, 13 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310424