https://www.taxtmi.com/caselaws?id=393569 The Tribunal ruled in favor of the assessee, holding that no disallowance under Section 14A is permissible for banks engaged in banking business. The Tribunal remitted certain issues back to the Assessing Officer and CIT(A) for further examination, ensuring effective opportunities for the assessee to present its case. The Tribunal upheld the disallowance of provision for leave encashment but allowed deductions for ex-gratia payments. Additionally, the disallowance on interest accrued on NPAs was deleted, aligning with RBI guidelines and Supreme Court rulings. Overall, the Tribunal's decisions favored the assessee on various tax-related issues. en-us Fri, 10 Jan 2020 00:00:00 +0530 Thu, 19 Mar 2020 11:07:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393569 The Tribunal ruled in favor of the assessee, holding that no disallowance under Section 14A is permissible for banks engaged in banking business. The Tribunal remitted certain issues back to the Assessing Officer and CIT(A) for further examination, ensuring effective opportunities for the assessee to present its case. The Tribunal upheld the disallowance of provision for leave encashment but allowed deductions for ex-gratia payments. Additionally, the disallowance on interest accrued on NPAs was deleted, aligning with RBI guidelines and Supreme Court rulings. Overall, the Tribunal's decisions favored the assessee on various tax-related issues. Case-Laws Income Tax Fri, 10 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393569