Sec. 14A of Income Tax act, 1961—Business Disallowance — Matter remitted back to AO for fresh examination as assessee has not borrowed any loan towards any investment which earned exempt income and it has not claimed any interest expenditure as an expenditure from any of its income and assessee shall lay relevant materials in support of its contention before the AO and comply with the requirements of the AO in accordance with law and AO is free to conduct appropriate enquiry as deemed fit, but he shall furnish adequate opportunity to the assesssee on the material etc to be used against it and decide the matter in accordance with law. - ANNAMALAI (BHUF)(S.) V/s ITO - [2020] 82 ITR (TRIB) 068 (ITAT-CHENNAI)