Tribunal held that interest disallowance is concerned the ITAT observed that sufficient interest free funds were available with the Assessee to make the investments. Also there was no finding of the department that interest bearing funds have been applied for the purpose of making investments. Therefore, following the decision in case of Reliance Utilities & Power Ltd. reported in [2009] 313 ITR 340 (Bombay), disallowance under Rule 8D(2)(ii) was deleted. Insofar as disallowance under Rule 8D(2)(iii) is concerned, in one of the AYs where the assessee has suo moto made a disallowance and mentioned it in the audit report, the same was deleted by the ITAT. (CIT v. Reliance Utilities & Power Ltd. [2009] 313 ITR 340 (Bom)(HC)  followed) (AY. 2013-14, 2014-15, 2016-17, 2017-18)