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2017 (8) TMI 1392 - HC - Income TaxAddition applying section 14A read with rule 8D - sufficiency of own funds - Held that:- As the assessee is possessed of sufficient interest-free funds of its own and in excess of the investment made, then no part of the interest paid on borrowed funds can be disallowed on the basis that investments are made out of the interest-bearing funds under section 14A of the Act. No fault can be found with the impugned order of the Tribunal in following the decision of this court in Reliance Utilities and Power Ltd. [2009 (1) TMI 4 - BOMBAY HIGH COURT] - Decided in favour of assessee.
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