| COURT: | Supreme Court |
| CORAM: | D. Y. Chandrachud J, Hemant Gupta J |
| SECTION(S): | 14A, 36(1)(iii) |
| GENRE: | Domestic Tax |
| CATCH WORDS: | interest-free deposit |
| COUNSEL: | D. L. Chidanand |
| DATE: | January 2, 2019 (Date of pronouncement) |
| DATE: | March 23, 2019 (Date of publication) |
| AY: | 2003-04, 2004-05, 2005-06, 2006-07 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 14A/ 36(1)(iii): If the interest free funds available to the assessee are sufficient to meet its investment, it could be presumed that the investments are made from the interest free funds available with the assessee and not from borrowed funds | |
The High Court has noted the finding of the Tribunal that the interest free funds available to the assessee were sufficient to meet its investment. Hence, it could be presumed that the investments were made from the interest free funds available with the assessee
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