https://www.taxtmi.com/caselaws?id=283817 The appeals were allowed as the Tribunal held that investments in securities by the banking entity were part of its business activities, and income from such investments was business income, not subject to disallowance under rule 8D. The Tribunal cited a decision by the Punjab & Haryana High Court and a CBDT circular to support its ruling. Consequently, the disallowance under section 14A was deleted for the assessment years in question. en-us Fri, 24 Nov 2017 00:00:00 +0530 Tue, 15 Oct 2019 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283817 The appeals were allowed as the Tribunal held that investments in securities by the banking entity were part of its business activities, and income from such investments was business income, not subject to disallowance under rule 8D. The Tribunal cited a decision by the Punjab & Haryana High Court and a CBDT circular to support its ruling. Consequently, the disallowance under section 14A was deleted for the assessment years in question. Case-Laws Income Tax Fri, 24 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283817