Taxpayer-Bank With Sufficient Surplus Funds Needs No Section 14A Disallowance On Exempt Income
Taxpayer-Bank With Sufficient Surplus Funds Needs No Section 14A Disallowance On Exempt Income Issue Whether disallowance under Section 14A of the Income-tax Act, 1961, read with Rule 8D of the Income-tax Rules, 1962, can be sustained or estimated by the Department when the assessee, a banking company, possesses sufficient and adequate surplus interest-free funds to… Read More »