Held that since the investment represented a current account transaction of loans to the joint venture and not an investment yielding exempt income, section 14A did not apply. (AY. 2017-18)
ITD Cementation India Ltd v Dy. CIT (2025) 131 ITR 74 (Trib)
S. 14A: Income-Expenditure relating to exempt income-Investment being share of profit in joint venture, current account transaction for loans given-Provision inapplicable-Disallowance rightly deleted. [R. 8D]
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