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2020 (11) TMI 1087 - HC - Income TaxDisallowance of expenditure of earning exempt income u/s 14A - addition to book profits under Section 115 JB towards expenditure on exempt income - HELD THAT:- Substantial questions of law No.1 and 4 are answered against the revenue by judgment passed by a Bench of this Court [2020 (1) TMI 1141 - KARNATAKA HIGH COURT] and connected matter. Deprecation on HTM category of investments - HELD THAT:- As further submitted that the substantial question of law No.2 is answered against the revenue by a Bench of this Court in ‘KARNATAKA BANK LTD [2013 (7) TMI 656 - KARNATAKA HIGH COURT] as further submitted that substantial question of law No.3 is covered by the judgment passed by a Bench of this Court [2020 (1) TMI 1116 - KARNATAKA HIGH COURT] and connected matters. The aforesaid submission could not be disputed by learned counsel for the revenue. We answer the substantial questions of law framed in these appeals against the revenue and in favour of the assessee.
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