Court held that the Tribunal had correctly appreciated the fact that the assessee was a nationalised bank and deleted the disallowance holding that the shares were held as stock-in-trade and that the provisions of section 14A had no applicability. (AY.2013-14 to 2015-16)
PCIT v. Oriental Bank Of Commerce Ltd. (2024) 464 ITR 563 (Delhi)(HC)
S. 14A : Disallowance of expenditure-Exempt income-Shares held as stock in trade-No disallowance can be made.[R. 8D]