M/S.SHEETAL REAL vs. INCOME TAX OFFICER

In the result, the appeal fails and the substantial questions of law

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE R.K.PATTANAIK

22. At this juncture, it would be beneficial to refer to the decision of the Hon’ble Supreme Court in South Indian Bank Limited. The question of law which arose for consideration before the Hon’ble Supreme Court was whether proportionate disallowance of interest paid by the banks is called for under Section 14A of the Act for investments made

PRINCIPAL COMMISSIONER OF INCOME TAX-2 vs. M/S.JAGANNATH CHAUDHURY