https://www.taxtmi.com/caselaws?id=456305 The Tribunal dismissed the assessee's appeals as withdrawn following their request. Regarding the disallowance of interest expenses under section 14A of the Income Tax Act, the Tribunal upheld the CIT(A)'s decision to delete the disallowance. The Tribunal determined that sufficient interest-free funds were available, supporting the presumption that investments were made from these funds. Consequently, the Tribunal rejected the Revenue's appeal, maintaining the deletion of the disallowance. en-us Fri, 15 Sep 2023 00:00:00 +0530 Mon, 15 Jul 2024 19:50:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456305 The Tribunal dismissed the assessee's appeals as withdrawn following their request. Regarding the disallowance of interest expenses under section 14A of the Income Tax Act, the Tribunal upheld the CIT(A)'s decision to delete the disallowance. The Tribunal determined that sufficient interest-free funds were available, supporting the presumption that investments were made from these funds. Consequently, the Tribunal rejected the Revenue's appeal, maintaining the deletion of the disallowance. Case-Laws Income Tax Fri, 15 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456305