https://www.taxtmi.com/caselaws?id=770336 ITAT Delhi allowed assessee's appeal regarding interest disallowance u/s 36(1)(iii), holding no disallowance was warranted where non-interest bearing funds exceeded investments in tax-free securities, following its own precedent. However, the tribunal rejected assessee's claim for relief on suo-moto disallowance u/s 14A of Rs. 4,42,817, reasoning that granting relief would convert returned income into loss eligible for carry-forward. The tribunal upheld CIT(A)'s partial relief on maintenance expenses disallowance, finding no material contradicting the lower authority's findings. Appeal partially allowed. en-us Wed, 30 Apr 2025 00:00:00 +0530 Fri, 09 May 2025 09:12:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770336 ITAT Delhi allowed assessee's appeal regarding interest disallowance u/s 36(1)(iii), holding no disallowance was warranted where non-interest bearing funds exceeded investments in tax-free securities, following its own precedent. However, the tribunal rejected assessee's claim for relief on suo-moto disallowance u/s 14A of Rs. 4,42,817, reasoning that granting relief would convert returned income into loss eligible for carry-forward. The tribunal upheld CIT(A)'s partial relief on maintenance expenses disallowance, finding no material contradicting the lower authority's findings. Appeal partially allowed. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770336