Sec. 14A of the Income-tax Act, 1961 – Expenditure incurred – The question arising in the appeal in the appeals of the Revenue before High Court was as to the applicability of section 14A of the IT Act, 1961. In [2018] 401 ITR 445 CIT vs. Essar Tele holdings Ltd. it has been held that the said provision would be applicable only from the assessment year 2007-08. Since the appeal of the revenue being from an assessment year long prior to that, the question was answered in favour of the assessee and against the Revenue. Thus, Appeal of the revenue stand rejected. Supreme Court also dismissed the SLP of revenue – CIT Vs. STATE BANK OF TRAVANCORE 2020] 269 TAXMAN 571 (SC).