Home › Income-Tax Act › CIT v. Weizmann Ltd (2020) 115 taxmann.com 246 (Bom.)(HC) Editorial : SLP of revenue is dismissed as withdrawn as due to low tax effect, CIT v. Weizmann Ltd. (2020) 273 Taxman 15 (SC)

CIT v. Weizmann Ltd (2020) 115 taxmann.com 246 (Bom.)(HC) Editorial : SLP of revenue is dismissed as withdrawn as due to low tax effect, CIT v. Weizmann Ltd. (2020) 273 Taxman 15 (SC)

S. 14A : Disallowance of expenditure-Exempt income-Investment was made from interest free funds-No disallowance could be made. [R. 8D]

Dismissing the appeal of the revenue the Court held that Tribunal is right in holding that no investment is made by the assessee in shares and securities (Mutual funds) out of interest bearing funds relying on the decision of Hon’ble High Court in the case of CIT v. Reliance Utilities & Power Ltd. (2009)313 ITR 340 (SC)   (AY. 2008-09)