Dismissing the appeal of the revenue the assessee had sufficient own funds, hence no disallowance can be made. (AY. 2008 -09, 2009-10)
CIT v. Gujarat State Fertilizers And Chemicals Ltd. (2018) 409 ITR 378 (Guj.)(HC)
S. 14A : Disallowance of expenditure-Exempt income – Mixed funds-Having sufficient own funds–No disallowance can be made. [R. 8D]