Where the interest-free funds far exceed the value of investments, it should be considered that investments have been made out of interest-free funds and no disallowance under section 14A towards any interest expenditure can be made following Reliance Utilities 313 ITR 340(Bom HC) and HDFC bank 366 ITR 505(Bom HC)[Para 42] - Microlabs Ltd [2015] 62 taxmann.com 60 (Bangalore - Trib.) MARCH 5, 2015