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2020 (4) TMI 373 - HC - Income TaxDisallowance u/s 14A r.w.r. 8D - HELD THAT:- Assessing Authority while invoking the provisions of Rule 14(A) (1) read with Rule 8(D) of the Income Tax Act has not disclosed any basis for expenditure in relation to exempt income while invoking the aforesaid provision. Therefore, the aforesaid substantial question of law is answered in negative and in favour of the assessee. Excess claim of bad debts written off under Section 36(1)(vii) - HELD THAT:- Issue decided in favour of assessee relying on M/S. SYNDICATE BANK [2020 (2) TMI 1020 - KARNATAKA HIGH COURT] Depreciation on valuation of investment portfolio - Whether allowable by treating the investments held by the assessee bank as stock-in-trade once the RBI Master Circular read with CBDT Circular No.665 came into force - HELD THAT:- Question of law is answered by a Bench of this Court in M/S. ING VYSYA BANK LIMITED [2020 (1) TMI 1116 - KARNATAKA HIGH COURT]
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