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2016 (7) TMI 959 - BOMBAY HIGH COURTDisallowance of interest expenses u/s 14A - Held that:- It is an undisputed position in this case that interest free funds available with the assessee are much more than the investments made to earn exempt incomes as in the case of Reliance Utilities and Power Ltd. (2009 (1) TMI 4 - BOMBAY HIGH COURT ). Thus, the presumption applies. Further, nothing has been shown to us to warrant taking a different view to that taken in Reliance Utilities and Power Ltd. (supra). In view of the fact that the question as raised stands concluded by the decision of this Court in favour of the respondent assessee
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