Full Judgment attached .
C A Shah D J
USA
From: Rajkumar <r.r.makwana@gmail.com>
To: aaykarbhavan@googlegroups.com
Sent: Tuesday, 23 July 2013 1:29 PM
Subject: [aaykarbhavan:6692] [ITR] [GlobalIndianCAs] S.14A does not apply to shares held as stock-in-trade
S.14A does not apply to shares held as stock-in-trade
Karnataka High Court
CCI Ltd vs. The Joint Commissioner of Income tax
ITA NO. 359 of 2011
Date of Decision 28.02.2012
HC held that When no expenditure is incurred by the assessee in earning dividend income, notional expenditure cannot be disallowed u/s 14A. The assessee had not retained shares with the intention of earning dividend. The dividend income was incidental to the business of sale of shares, which remained unsold by the assessee. It cannot be said that the expenditure incurred in
Karnataka High Court
CCI Ltd vs. The Joint Commissioner of Income tax
ITA NO. 359 of 2011
Date of Decision 28.02.2012
HC held that When no expenditure is incurred by the assessee in earning dividend income, notional expenditure cannot be disallowed u/s 14A. The assessee had not retained shares with the intention of earning dividend. The dividend income was incidental to the business of sale of shares, which remained unsold by the assessee. It cannot be said that the expenditure incurred in
--
Posted By Rajkumar to ITR at 5/01/2012 12:18:00 PM --
--
You received this message because you are subscribed to the Google Groups "aaykarbhavan" group.
To post to this group, send email to aaykarbhavan@googlegroups.com
To unsubscribe from this group, send email to aaykarbhavan-unsubscribe@googlegroups.com
For more options, visit this group at http://groups.google.com/group/aaykarbhavan?hl=en
Other Finance group to visit :
http://finance.groups.yahoo.com/group/It_law_reported/
http://finance.groups.yahoo.com/group/aaykarbhavan/
http://groups.google.com/group/aaykarbhavan
Other interesting groups
http://finance.groups.yahoo.com/group/le-vech/
http://tech.groups.yahoo.com/group/groups_master/
---
You received this message because you are subscribed to the Google Groups "aaykarbhavan" group.
To unsubscribe from this group and stop receiving emails from it, send an email to aaykarbhavan+unsubscribe@googlegroups.com.
For more options, visit https://groups.google.com/groups/opt_out.
No comments:
Post a Comment