{"id":58093,"date":"2026-01-10T09:45:28","date_gmt":"2026-01-10T04:15:28","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-shapoorji-pallonji-and-co-ltd-2024-164-taxmann-com-707-bom-hc-editorial-slp-of-revenue-rejected-pcit-v-shapoorji-pallonji-and-co-ltd-2024-300-taxman-182sc\/"},"modified":"2026-01-10T09:45:28","modified_gmt":"2026-01-10T04:15:28","slug":"pcit-v-shapoorji-pallonji-and-co-ltd-2024-164-taxmann-com-707-bom-hc-editorial-slp-of-revenue-rejected-pcit-v-shapoorji-pallonji-and-co-ltd-2024-300-taxman-182sc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-shapoorji-pallonji-and-co-ltd-2024-164-taxmann-com-707-bom-hc-editorial-slp-of-revenue-rejected-pcit-v-shapoorji-pallonji-and-co-ltd-2024-300-taxman-182sc\/","title":{"rendered":"PCIT v. Shapoorji Pallonji and Co Ltd [2024] 164 taxmann.com 707 (Bom.)(HC) Editorial : SLP of revenue rejected, PCIT v. Shapoorji Pallonji and Co Ltd (2024) 300 Taxman 182(SC)"},"content":{"rendered":"<p>Following its own decision in the assessee&#8217;s case for the preceding assessment year on identical questions of law, the High Court dismissed the revenue&#8217;s appeal. It was held that where an assessee possesses both interest-free and interest-bearing funds, a presumption arises that investments are made from the available interest-free funds. As the assessee\u2019s own interest-free funds were far in excess of its investments and interest-free advances, no disallowance of interest was warranted under either section 14A or section 36(1)(iii). (AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.14A : Disallowance of expenditure-Exempt income-Mixed funds-Where both interest-free and interest-bearing funds are available with an assessee, it is to be presumed that investments are made from the interest-free funds-no disallowance of interest was warranted under either section 14A or section 36(1)(iii).   [S. 36(1)(iii), 115JB]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-58093","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-f6Z","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/58093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=58093"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/58093\/revisions"}],"predecessor-version":[{"id":58094,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/58093\/revisions\/58094"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=58093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=58093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=58093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}