Tribunal held that own interest-free funds deployed in business much higher than average investment held by assessee during Year. Disallowance not sustainable. ( AY.2011-12)
Sundaram Business Services Ltd. v . ITO (2020) 82 ITR 12 (SN)(Chennai) (Trib)
S. 14A : Disallowance of expenditure – Exempt income – Own interest-free funds deployed in business much higher than average investment held by assessee during Year — Disallowance not sustainable [ R. 8D (2) (ii) ]