THE FEDERAL BANK LTD,ALUVA vs. THE ACIT, KOCHI
In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-
ITA 746/COCH/2019[2009-10]Status: DisposedITAT Cochin12 Dec 2022AY 2009-10
Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy
For Appellant: Shri Rajesekharan, CA and Shri K.Gopi, CAFor Respondent: Smt. J. M. Jamuna Devi, Sr. DR, Cochin
Section 147Section 14ASection 154
2) of the Act and that the Assessee had sufficient surplus funds and that the investments being stock in trade no disallowance can be made u/s.14-A of the Act.
16. After considering the rival contentions, we are of the view that the issue of disallowance u/s.14A of the Act has to be remanded to the AO for fresh consideration