https://www.taxtmi.com/caselaws?id=272932 The Tribunal dismissed the Revenue's appeal against the CIT(A)'s order for A.Y. 2005-06, upholding the disallowance u/s 40(a)(ia) and exemption u/s 80P(2)(a)(i) of the Act. The Tribunal ruled that the disallowance made u/s 40(a)(ia) did not become taxable when related to banking activities enjoying exemption u/s 80P(2)(a)(i). It was held that the disallowance amount was incidental to banking activities falling under section 80P(2)(a)(i), thus supporting the CIT(A)'s decision. en-us Mon, 28 Feb 2011 00:00:00 +0530 Fri, 25 May 2018 11:19:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272932 The Tribunal dismissed the Revenue's appeal against the CIT(A)'s order for A.Y. 2005-06, upholding the disallowance u/s 40(a)(ia) and exemption u/s 80P(2)(a)(i) of the Act. The Tribunal ruled that the disallowance made u/s 40(a)(ia) did not become taxable when related to banking activities enjoying exemption u/s 80P(2)(a)(i). It was held that the disallowance amount was incidental to banking activities falling under section 80P(2)(a)(i), thus supporting the CIT(A)'s decision. Case-Laws Income Tax Mon, 28 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272932