https://www.taxtmi.com/caselaws?id=65452 The Tribunal upheld the disallowance of expenses under section 14A of the Income Tax Act related to tax-free income, despite the nationalized bank's arguments regarding statutory liquidity ratio compliance and business purposes. However, it directed the AO to verify and accurately allocate expenses directly attributable to tax-free investments, partly allowing the appeal. en-us Fri, 24 Mar 2006 00:00:00 +0530 Thu, 14 Mar 2024 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65452 The Tribunal upheld the disallowance of expenses under section 14A of the Income Tax Act related to tax-free income, despite the nationalized bank's arguments regarding statutory liquidity ratio compliance and business purposes. However, it directed the AO to verify and accurately allocate expenses directly attributable to tax-free investments, partly allowing the appeal. Case-Laws Income Tax Fri, 24 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65452