No Sec. 14A disallowance without any material indicating that interest-bearing funds were used to earn dividend

May 2, 2015[2015] 56 taxmann.com 391 (Punjab & Haryana)

IT: Where Assessing Officer disallowed an amount by holding that interest bearing funds had been used to earn tax free dividend, etc., but there was no tangible material to record his satisfaction, disallowance made was unjustified