Case Law Details
Case Name : South Indian Bank Ltd Vs Commissioner of Income Tax (Supreme Court of India)
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Courts :
Supreme Court of India
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South Indian Bank Ltd Vs Commissioner of Income Tax (Supreme Court of India)
1. For purposes of 14A, a presumption can be made that investments have been made out of interest free funds even when there are mixed funds and there is no bifurcation in books of accounts for interest expense.
2. It needs to be observed here that in taxation regime, there is no room for presumption and nothing can be taken to be implied.
3. The tax an individual or a corporate
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Excellent Judgement