Section 14A Disallowance Overturned: Assessee's Interest-Free Funds Exceed Investment Needs, No Interest Expenditure Disallowed.

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....Disallowance u/s.14A - investment in shares - Assessee had aggregate interest-free funds by way of share capital and reserves which are more than the investment in shares and mutual funds - Thus, in this way, the assessee was having enough interest-free funds and, hence, the disallowance out of interest expenditure could not have been made - AT....