scrutiny
This query is : Resolved
24 October 2009
Dear sir
An ITO is stating that an addition shall be made on the ground that company has made investments in other companies(common group),but getting no income on such investments although such group companies are earning profit.
my querry is on what grounds ITO can make addition.
AmitAgrawal
An ITO is stating that an addition shall be made on the ground that company has made investments in other companies(common group),but getting no income on such investments although such group companies are earning profit.
my querry is on what grounds ITO can make addition.
AmitAgrawal
Aditya Maheshwari
(Expert)
24 October 2009
Addition can be made under rule 8D read with section 14A only if the condition specified in the rule is not satisfied. Not otherwise.
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