https://www.taxtmi.com/caselaws?id=34915 The court dismissed the appeal as no substantial question of law arose in the case. The disallowance of interest on advances made by the assessee was overturned by the CIT(A) as the advances were made before the loan was taken. The disallowance of expenses under Section 14A was reduced to Rs.107510/- based on the actual correlation of investments with borrowed funds. The disallowance of depreciation on shared flats was also overturned as the other firms were found to operate from a different address. en-us Mon, 26 Oct 2009 00:00:00 +0530 Fri, 26 Mar 2010 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34915 The court dismissed the appeal as no substantial question of law arose in the case. The disallowance of interest on advances made by the assessee was overturned by the CIT(A) as the advances were made before the loan was taken. The disallowance of expenses under Section 14A was reduced to Rs.107510/- based on the actual correlation of investments with borrowed funds. The disallowance of depreciation on shared flats was also overturned as the other firms were found to operate from a different address. Case-Laws Income Tax Mon, 26 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34915