No Disallowance U/s. 14A if Interest Free Fund exceeds fund Invested in Exempted Income Investments

CIT Vs. Suzlon Energy Ltd. (Gujarat High Court), Tax Appeal No. 223 Of 2013, Date- 03.04.2013

Issue- Whether the Appellate Tribunal is right in law and on facts in deleting disallowance u/s. 14A of the I.T Act in respect of interest expenses incurred for investments in subsidiaries and administrative expenses such as staff salary of corporate office, audit fees, building rent and communication expenses ?

Above pertains to disallowances made by the A

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