https://www.taxtmi.com/caselaws?id=773268 ITAT Ahmedabad upheld CIT(A)'s deletion of interest disallowance under section 14A. The tribunal found that assessee had sufficient own interest-free funds for investments earning exempt income, following Gujarat HC precedent in Gujarat Industrial Development Corporation case. Since adequate own funds were available for such investments, no disallowance of interest expenditure was warranted under section 14A. The assessee's appeal was allowed. en-us Thu, 15 May 2025 00:00:00 +0530 Fri, 20 Jun 2025 08:34:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773268 ITAT Ahmedabad upheld CIT(A)'s deletion of interest disallowance under section 14A. The tribunal found that assessee had sufficient own interest-free funds for investments earning exempt income, following Gujarat HC precedent in Gujarat Industrial Development Corporation case. Since adequate own funds were available for such investments, no disallowance of interest expenditure was warranted under section 14A. The assessee's appeal was allowed. Case-Laws Income Tax Thu, 15 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773268