Court held that ;the Tribunal had rendered a factual finding that the assessee was seized of sufficient funds which it could have invested and therefore, the deletion of disallowance, by the Tribunal, on account of interest under section 14A was right. ( ITA No .250 of 2005 dt. 7-07-2017 ( AY.1999-2000)
CIT v. Maruti Udyog Ltd. (2018) 407 ITR 159 /( 2019) 308 CTR 682(Delhi) (HC)
S. 14A : Disallowance of expenditure – Exempt income – Sufficient funds- Onus is on department to establish nexus between expenditure disallowed and earning of interest income —Deletion of disallowance is held to be justified . [ R.8D ]