The assessee company has been engaged in the business of Share Trading. It held the shares in stock in trade by year by year.
The A.O. contended that, Shares is considered as Investments & willing to make additions u/s 14A, because there is a substantial Dividend income earned by the assessee Company. Can A.O. do so ?? , even though assessee company has been fully engaged in the business of share trading.
Is there any decision / judgment in the favour of assessee. Kindly send the same.
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