https://www.taxtmi.com/caselaws?id=456712 ITAT Chandigarh allowed the assessee's appeal against disallowance under Section 14A read with Rule 8D. The tribunal held that no disallowance of interest expenditure was warranted as the assessee demonstrated investments were made from own interest-free funds, not borrowed funds. The investments in subsidiary company shares were strategic investments for providing trading platform to public, establishing commercial expediency rather than earning exempt income. The tribunal deleted the disallowance, setting aside CIT(Appeals) order. en-us Tue, 17 Oct 2017 00:00:00 +0530 Fri, 09 Aug 2024 20:31:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456712 ITAT Chandigarh allowed the assessee's appeal against disallowance under Section 14A read with Rule 8D. The tribunal held that no disallowance of interest expenditure was warranted as the assessee demonstrated investments were made from own interest-free funds, not borrowed funds. The investments in subsidiary company shares were strategic investments for providing trading platform to public, establishing commercial expediency rather than earning exempt income. The tribunal deleted the disallowance, setting aside CIT(Appeals) order. Case-Laws Income Tax Tue, 17 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456712