DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD vs. UNION BANK OF INDIA, HYDERABAD

In the result, the appeal of revenue is partly allowed for statistical\npurposes

section 14A, it is not\nmaterial that assessee should have earned such exempt income during the financial\nyear under consideration.\n4.6 In view of the above discussions and also having regard to the accounts of the\nassessee, the correctness of the claim of the assessee in respect of such expenditure\nin relation to exempt income in not proved beyond doubt