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of <h1>Appeal dismissed in s.14A read with Rule 8D disallowance dispute; prior precedent upheld assessment result favoring assessee</h1> <h3>Principal Commissioner Of Income Tax Versus Axis Bank Limited</h3> Principal Commissioner Of Income Tax Versus Axis Bank Limited - TMI The Revenue filed an appeal against the High Court of Gujarat, Ahmedabad judgment in Tax Appeal No. 25 of 2017 for the assessment year 2007-08. Counsel for the respondent pointed out that the issues in the appeal are 'squarely covered by the order passed by this Court in the case of The Commissioner of Income Tax I v. UTI Bank Ltd. through its Manager (Civil Appeal No.1926 of 2014) decided on 1st September, 2022.' That position was not disputed by the learned Additional Solicitor General for the appellant. In view of the parties' fair stand, the appeal was dismissed. Pending application, if any, also stood disposed of.
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