ITAT allows Axis Bank’s Rs. 8.3 Cr Interest Expense Claim u/s 14A citing Previous Ruling [Read Order]

The Tribunal grants relief to Axis Bank Ltd. on Interest Disallowance Under Section 14A for A.Y. 2010-11 and 2011-12
By Sneha Sukumaran Mullakkal - On August 5, 2024 11:41 am - 2 mins read
Income Tax - ITAT - Income Tax News - Income Tax Department - ITAT Ahmedabad - TAXSCAN

The Ahmedabad bench of Income Tax Appellate Tribunal ( ITAT )  allowed the interest expense claim of Rs. 8.3 crore of Axis bank citing both Income tax. The bench ruled in favor of Axis Bank Ltd. on the issue of interest disallowance under Section 14A of Income Tax Act, 1961 for A.Y. 2010-11, citing a…

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