https://www.taxtmi.com/caselaws?id=763904 Where mixed funds exist and own interest-free funds exceed exempt-income investments, disallowance under section 14A read with rule 8D is not sustainable. Amortisation of premium on securities held to maturity was treated as an allowable revenue deduction, and the provision for standard assets was also deductible because the same accounting treatment had been accepted in other years under the rule of consistency. The provision for fraud was allowed on the basis of the FIR and supporting records. A Regional Rural Bank was held entitled to section 80P(2)(a)(i) relief under the statutory framework and CBDT circular. Ad hoc establishment expense disallowances unsupported by verification were deleted, while one item was remanded for fresh examination. en-us Fri, 27 Dec 2024 00:00:00 +0530 Mon, 30 Dec 2024 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763904 Where mixed funds exist and own interest-free funds exceed exempt-income investments, disallowance under section 14A read with rule 8D is not sustainable. Amortisation of premium on securities held to maturity was treated as an allowable revenue deduction, and the provision for standard assets was also deductible because the same accounting treatment had been accepted in other years under the rule of consistency. The provision for fraud was allowed on the basis of the FIR and supporting records. A Regional Rural Bank was held entitled to section 80P(2)(a)(i) relief under the statutory framework and CBDT circular. Ad hoc establishment expense disallowances unsupported by verification were deleted, while one item was remanded for fresh examination. Case-Laws Income Tax Fri, 27 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763904