M/S KBD SUGARS & DISTILLERIES LTD. vs. ACIT,

In the result, the appeals of the assessee for the Assessment Years 2008-

disallowance on account of interest expenditure under Section 14A in the earlier assessment year. Further, the Tribunal for the Assessment Years 2006-07 & 07-08, while deciding the issue of interest free loans advanced to the related parties have given the finding that the assessee was having sufficient interest free funds. We further find that during the year under consideration

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(1), BENGALURU, BENGALURU vs. INFOSYS LIMITED, BENGALURU

In the result, appeal filed by the assessee is partly allowed and the appeal filed by the revenue is dismissed