https://www.taxtmi.com/caselaws?id=795215 Interest expenditure attributable to capital work in progress was not liable to capitalisation where interest-free funds exceeded the investments, creating a presumption that investments were made from those funds, and the building had already been put to use. Further, a disallowance calculated under section 14A read with rule 8D could not by itself be added to book profit under section 115JB. The principles confirm that sufficient interest-free funds rebut a nexus between borrowings and investments, while book-profit adjustments require an independent basis beyond a rule 8D computation. en-us Mon, 13 Jul 2026 00:00:00 +0530 Fri, 18 Sep 2026 10:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795215 Interest expenditure attributable to capital work in progress was not liable to capitalisation where interest-free funds exceeded the investments, creating a presumption that investments were made from those funds, and the building had already been put to use. Further, a disallowance calculated under section 14A read with rule 8D could not by itself be added to book profit under section 115JB. The principles confirm that sufficient interest-free funds rebut a nexus between borrowings and investments, while book-profit adjustments require an independent basis beyond a rule 8D computation. Case-Laws Income Tax Mon, 13 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795215