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of <h1>Issue under s.14 r.w.r. 8D(2)(iii) resolved by Apex Court precedent; service waived; registry to summon and prepare complete paper book</h1> <h3>Pr. Commissioner of Income Tax – 2 Versus Kotak Mahindra Bank Ltd.</h3> Pr. Commissioner of Income Tax – 2 Versus Kotak Mahindra Bank Ltd. - TMI Admitted appeal on the substantial question whether the Tribunal erred in holding that 'strategic investments should not be considered for making disallowance under Section 14 read with Rule 8D(2)(iii) without appreciating the fact that no such distinction exists in the Income Tax Act and that income accrued from such investments is exempt in nature.' Question (a) is regarded as covered by the decision in South Indian Bank Ltd. v. Commissioner of Income Tax (2021) 130 taxmann.com 178 (SC). Respondent waives service. Registry directed to summon the original tribunal record, permit party inspection, and prepare a complete paper book in accordance with the Rules; the paper book on file is treated sufficient for admission and parties to be notified of admission with a copy of the order. Appeal to be listed in due course.
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