https://www.taxtmi.com/caselaws?id=459825 ITAT Delhi ruled on multiple issues concerning a bank's assessment. The tribunal dismissed the challenge to CIT(A)'s order validity despite being passed in the name of a non-existent entity, treating it as a clerical error. Section 14A disallowance was rejected where the bank had sufficient interest-free funds for tax-free investments. Securities premium amortization was allowed following established precedent. The matter regarding disallowance of obsolete stationery losses was remanded to AO for fresh consideration with newly submitted evidence, ensuring the assessee receives adequate hearing opportunity. en-us Wed, 19 Oct 2022 00:00:00 +0530 Mon, 30 Dec 2024 19:58:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459825 ITAT Delhi ruled on multiple issues concerning a bank's assessment. The tribunal dismissed the challenge to CIT(A)'s order validity despite being passed in the name of a non-existent entity, treating it as a clerical error. Section 14A disallowance was rejected where the bank had sufficient interest-free funds for tax-free investments. Securities premium amortization was allowed following established precedent. The matter regarding disallowance of obsolete stationery losses was remanded to AO for fresh consideration with newly submitted evidence, ensuring the assessee receives adequate hearing opportunity. Case-Laws Income Tax Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459825