41 results for “disallowance”+ Section 254(1)clear
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Bench: The Learned Tribunal – One By The Assessee & The Other By The Revenue Which Have Been Disposed Of By A Common Order, Impugned In This Appeal. 2. The Revenue Has Raised The Following Substantial Questions Of Law For Consideration :
1 (SC) wherein the Hon’ble Supreme Court held that if investments in securities were made out of common funds and the assessee had available, non-interest bearing funds larger than the investments in tax-free securities, disallowance under Section 14A could not be made. Furthermore, there was no statutory provision which obligated the assessee to maintain separate accounts which