Section 14A of Income Tax Act not applicable for incidental investment holding in banking business of assessee.

Section 14A of Income Tax Act not applicable for incidental investment holding in banking business of assessee. https://www.taxtmi.com/highlights?id=34293 Addition u/s 14A - Once holding of investment was considered incidental to the business of banking to the assessee, Section 14A of the Act could not have been applied. - AT en-us Thu, 13 Apr 2017 07:23:00 +0530 Thu, 13 Apr 2017 07:23:20 +0530 TaxTMI RSS Generator Section 14A of Income Tax Act not applicable for incidental investment holding in banking business of assessee. https://www.taxtmi.com/highlights?id=34293 Addition u/s 14A - Once holding of investment was considered incidental to the business of banking to the assessee, Section 14A of the Act could not have been applied. - AT Highlights Income Tax Thu, 13 Apr 2017 07:23:00 +0530 https://www.taxtmi.com/highlights?id=34293