Disallowance u/s. 14A unjustified since own funds available more than investments made: ITAT Ahmedabad

Suzlon Energy Ltd. Vs DCIT (ITAT Ahmedabad)

ITAT Ahmedabad held that no disallowance can be made u/s.14A of the Income Tax Act, when own funds available were far more than the investments made by the Assessee. Thus, disallowance u/s. 14A deleted.

Facts- These cross appeals are filed by the Assessee and the Revenue as against separate appellate orders both dated 28.02.2023 passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, arising out of the separate assessment orders passed under section 143(3) of the Income Tax Act,

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