https://www.taxtmi.com/caselaws?id=311313 The ITAT allowed the appeal in favor of the appellant, a co-operative bank, vacating the disallowance of Rs.3,99,790/- under Sec.14A, as it was determined that the bank had sufficient interest-free funds for its investments in exempt income yielding assets. The decision was based on the precedent set by South Indian Bank Ltd. Vs. CIT (SC). Additionally, the ITAT directed the Assessing Officer to verify and allow the TDS credit of Rs.3,375/- if not already provided. en-us Wed, 30 Mar 2022 00:00:00 +0530 Wed, 20 Dec 2023 06:31:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311313 The ITAT allowed the appeal in favor of the appellant, a co-operative bank, vacating the disallowance of Rs.3,99,790/- under Sec.14A, as it was determined that the bank had sufficient interest-free funds for its investments in exempt income yielding assets. The decision was based on the precedent set by South Indian Bank Ltd. Vs. CIT (SC). Additionally, the ITAT directed the Assessing Officer to verify and allow the TDS credit of Rs.3,375/- if not already provided. Case-Laws Income Tax Wed, 30 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311313