{"id":64745,"date":"2026-10-05T16:02:34","date_gmt":"2026-10-05T10:32:34","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-morgan-stanley-india-capital-pvt-ltd-2025-177-taxmann-com-699-bom-hc\/"},"modified":"2026-10-05T16:02:34","modified_gmt":"2026-10-05T10:32:34","slug":"pcit-v-morgan-stanley-india-capital-pvt-ltd-2025-177-taxmann-com-699-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-morgan-stanley-india-capital-pvt-ltd-2025-177-taxmann-com-699-bom-hc\/","title":{"rendered":"PCIT v. Morgan Stanley India Capital Pvt Ltd [2025] 177 taxmann.com 699 (Bom) (HC)"},"content":{"rendered":"<p><strong>Where assessee had not taken any loans in the relevant year when investments in tax-free securities were made, and its own funds and other non-interest-bearing funds were more than the investments, it was to be presumed that investments were made out of interest-free funds; accordingly, no disallowance under section 14A read with rule 8D was warranted. \u00a0(AY. 2009-10)<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.14A: Disallowance of expenditure-Exempt income-Interest-free funds-Non-interest-bearing funds were more than the investment made in tax-free securities; it would be presumed that the investment made by the assessee would be from its interest-free funds and, thus, no disallowance under section 14A could be made-Order of Tribunal affirmed. [S.260A, Rule 8D]<\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-64745","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gQh","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64745","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=64745"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64745\/revisions"}],"predecessor-version":[{"id":64746,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64745\/revisions\/64746"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=64745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=64745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=64745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}