Held that the assessee had sufficient interest free funds. The formula provided in R.  8D was to be applied only when the assessee’s calculation of disallowance appeared to the Assessing Officer to be incorrect with regard to the assessee’s books of account. As a result, the disallowance made by the Assessing Officer under section 14A in accordance with Rule 8D is not sustainable hence  deleted. (AY. 2018-19)