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CIT v. State Bank of Travancore (2020) 114 taxmann.com 555 (Ker.) (HC) Editorial : SLP of revenue is dismissed, CIT v. State Bank of Travancore (2020) 269 Taxman 571 (SC)

S. 14A : Disallowance of expenditure-Exempt income-Provision is not applicable to prior to assessment year 2007-08.

Dismissing the appeal of the revenue the Court held that provisions of section 14A would be applicable from assessment year 2007-08 and not for earlier assessment years. Followed CIT v. Essar Tele holdings Ltd. (2018) 401 ITR 445 (SC).