[aaykarbhavan] HC slams AO for making sec. 14A disallowance when interest free funds of assessee exceeded investment in shares

HC slams AO for making sec. 14A disallowance when interest free funds of assessee exceeded investment in shares

March 12, 2014[2014] 42 taxmann.com 270 (Gujarat)

IT: Where assessee-company received dividend on UTI and shares and investment in same was made in earlier years and interest free funds available with assessee were much larger as compared to investment, disallowance of assessee's claim for interest expenditure by applying section 14A was wrong

 

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Prarthana Jalan

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