https://www.taxtmi.com/caselaws?id=783569 Disallowance under s.14A for interest expenditure on investments yielding exempt income turned on whether borrowed funds were used. As the AO made no specific finding that interest-bearing funds were applied for such investments, a presumption arose that investments were made from interest-free/own funds; applying SC precedent in Reliance Industries Ltd., the Tribunal held the interest disallowance was unwarranted and deleted it. The remaining non-interest disallowance under s.14A was sustained, resulting in partial relief to the taxpayer. en-us Mon, 15 Dec 2025 00:00:00 +0530 Thu, 18 Dec 2025 08:01:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783569 Disallowance under s.14A for interest expenditure on investments yielding exempt income turned on whether borrowed funds were used. As the AO made no specific finding that interest-bearing funds were applied for such investments, a presumption arose that investments were made from interest-free/own funds; applying SC precedent in Reliance Industries Ltd., the Tribunal held the interest disallowance was unwarranted and deleted it. The remaining non-interest disallowance under s.14A was sustained, resulting in partial relief to the taxpayer. Case-Laws Income Tax Mon, 15 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783569