https://www.taxtmi.com/caselaws?id=371281 For shares held by a bank as stock-in-trade, the commentary applies Maxopp Investments to note that the activity remains a business activity and that incidental dividend does not justify sustaining disallowance under section 14A read with Rule 8D(2)(iii) on the facts stated. It also states that leave encashment is governed by section 43B(f) and is allowable only on actual payment, so the provision must be disallowed in the year of creation and allowed in the year of payment, with corresponding adjustment to the assessment and related interest or penalty consequences. en-us Wed, 28 Nov 2018 00:00:00 +0530 Sat, 01 Dec 2018 12:41:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371281 For shares held by a bank as stock-in-trade, the commentary applies Maxopp Investments to note that the activity remains a business activity and that incidental dividend does not justify sustaining disallowance under section 14A read with Rule 8D(2)(iii) on the facts stated. It also states that leave encashment is governed by section 43B(f) and is allowable only on actual payment, so the provision must be disallowed in the year of creation and allowed in the year of payment, with corresponding adjustment to the assessment and related interest or penalty consequences. Case-Laws Income Tax Wed, 28 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371281