Tribunal held that the assessee had, owns funds were more than investments hence disallowance of interest is not justified, however,indirect administrative expenditure of 5% of average investment is held to be justified. (AY. 2013-14)
Agrasen Engineering Industries Pvt. Ltd. v. ACIT (2020) 186 DTR 197/ 203 TTJ 498 (Jaipur)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income – Owns funds were more than investments-No disallowance of interest-Indirect administrative expenditure of 5% of average investment is held to be justified. [R. 8D]