2013 (4) TMI 140

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.... Sri Sarangan, appearing for the appellant-assessee and the Standing Counsel for the respondent. The first question raised pertains to disallowance under sec-tion 14A of the Income-tax Act, 1961, which stands covered against the assessee by the judgment of this court in CIT v. Catholic Syrian Bank Ltd. reported in [2012] 344 ITR 259 (Ker) ; [2011] 237 CTR 164. Following this judgment we answer thi....

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....sessee as liability. Even though the counsel for the appellant has relied on the decision of the Bombay High court in CIT v. Bank of Rajasthan Ltd. reported in [2010] 326 ITR 526 (Bom) ; [2010] 40 DTR (Bom) 173, what we notice is that unlike in this case cash found is not excess carried over for several years but is excess cash available in the immediate past year. So much so, when there is no pos....