Held that assessee made investment in shares of company out of interest free surplus funds available with assessee and no exempt income was earned, disallowance made under section14A read with rule 8D was rightly deleted by Commissioner (Appeals). (AY. 2013-14)
DCIT v. Stylam Industries Ltd. (2024) 209 ITD 75 (Chd.)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income-Interest-Surplus fund-Order of CIT(A) deleting the disallowance is affirmed. [R.8D]