Section 14A Disallowance not maintainable merely on failure to Maintain Separate Accounts for Expenditures Incurred for Tax-Free Income: SC grants relief to South Indian Bank

In a relief to South Indian Bank, the Apex Court held that the Section 14A Disallowance is not maintainable merely on the failure of Assessee to Maintain Separate Accounts For Expenditures Incurred For Tax-Free Income. The assessees, South Indian Bank are scheduled banks and in course of their banking business, they also engage in the […]
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