https://www.taxtmi.com/caselaws?id=775961 ITAT Mumbai held that no disallowance under section 14A read with Rule 8D was warranted for computing book profit under section 115JB, as the assessee's investments in exempt income-yielding instruments were not funded by interest-bearing borrowings. The assessee's shares acquired from group concerns and through interest-free loans did not involve any interest expenditure. The assessee's substantial own funds exceeded the value of investments, negating the presumption of funding through borrowed funds. The Tribunal upheld the CIT(A)'s deletion of the disallowance, relying on prior binding decisions in the assessee's own case for earlier assessment years. en-us Thu, 31 Jul 2025 00:00:00 +0530 Fri, 01 Aug 2025 18:03:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775961 ITAT Mumbai held that no disallowance under section 14A read with Rule 8D was warranted for computing book profit under section 115JB, as the assessee's investments in exempt income-yielding instruments were not funded by interest-bearing borrowings. The assessee's shares acquired from group concerns and through interest-free loans did not involve any interest expenditure. The assessee's substantial own funds exceeded the value of investments, negating the presumption of funding through borrowed funds. The Tribunal upheld the CIT(A)'s deletion of the disallowance, relying on prior binding decisions in the assessee's own case for earlier assessment years. Case-Laws Income Tax Thu, 31 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775961