No Disallowance U/s 14A if investment been made by assessee out of its own interest free funds

HIGH COURT OF BOMBAY Director of Income-tax (IT)-II versus BNP Paribas SA J.P. DEVADHAR AND M. S. SANKLECHA, JJ. IT Appeal (L) No. 1776 of 2012 FEBRUARY 14, 2013 JUDGMENT 1. Office objections waived. 2. In this appeal by the revenue following substantial questions of law have been raised for our consideration. (a) Whether the ITAT is correct in deleting the addition made by the A.O. on account of interest paid by Indian Branch of the assessee bank to its head office and other overseas branch without considering the fact that the payments made by the branch to the Head office ...