Section 14A Disallowance Applies to Banking Assessee Due to Interest Accrual on Current Account Funds u/r 8D(2)(iii.

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....Disallowance u/s 14A - Assessee is engaged in the banking activity - Normally, every amount lying in the current accounts is interest bearing ones, therefore, the provisions of clause-(iii) of Rule-8D(2) is rightly applicable - AT....