sec 14A

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vijay kumar vyas (Querist)
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06 September 2009 Assesse is a share broker& member of calcutta stock exchange. He earned a dividend income of Rs. 6.00 lacs in f/y 2006-07 on shares held as stock & as investment. He has no such expenses directly attributable to such dividend income. will sec 14A apply. If not, any ITAT or court decision in favour of the assessee.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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06 September 2009 Daga Capital Management Services Pvt. Ltd. 119TTJ 289 (MUMBAI) (SB) judgment has made Section 14A a mess and also Rule 8D which will squarely apply in your case. Disallowance u/s 14A will be computed as per rule 8D or as per any other method that u can prove to the satisfaction of the A. O.

CA CHINTAN AJMERA

CA CHINTAN AJMERA (Expert)
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06 September 2009 Agree with expert, u can prove anything to the A.O. based on case law

Aditya Maheshwari

Aditya Maheshwari (Expert)
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06 September 2009 The case law of Daga Capital is against the assessee and in favour of the department.

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