As per sec 14A Rule 8D is applicable with effect from A.Y 2008-09
Last updated: 16 May 2012
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
Facts of the case are that the assessee filed its return qua the assessment year on14.11.2006 declaring total income of Rs. 25,88,000/-. Also claimed dividend of Rs. 3,03,110/- as exempt from tax u/s 10(34) of the Act. However, the Assessing Officer vide assessment order dated 19.11.2008 relied on the case of M/s. Daga Management Pvt. Ltd.(SB), ITAT Mumbai. Accordingly, applied provision of sec. 14A qua the dividend earned from dealing in shares and securities held as stocking trade. Hence, computed total disallowance of Rs.5,23,916/
Citation :
Available Finance Ltd., C/o. Sanjay Amritlal & Co, 321, B Wing, Vardhaman Chambers, Sec-17, Vashi, Navi Mumbai – 400 703. PAN: AAACF1246Q (Appellant) Vs. ACIT (Appeals)-8(1), Aayakar Bhavan, Mumbai – 400 020. (Respondent)
You have reached daily limit of 2 Free Judgements. To view this or other Judgements please subscribe to CCI PRO :
Stay updated! Stay ads free
Browse CAclubindia ads free.
Latest updates on WA.
Daily E-Newsletter and much more.
CCI PRO annual subscription :
Original Price : INR 2999/-
Offer Price : INR 1999/-
Duration : 1 year
(Prices Inclusive of GST)
Know More
Note: If you are a PRO member already, please click here to login (for ad free experience)
CS Bijoy
Published in Income Tax
Views : 2185
Comments
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
CAclubindia
