[aaykarbhavan] Investment to acquire controlling stake in a group co. and not to earn any income won’t attract sec. 14A rigour

Investment to acquire controlling stake in a group co. and not to earn any income won't attract sec. 14A rigour

July 8, 2014[2014] 46 taxmann.com 18 (Mumbai - Trib.)

IT : Where assessee made certain investment with an object of acquiring controlling stake in a group concern and not for earning any income out of investment, Assessing Officer was not justified in invoking provisions of section 14A, read with Rule 8D in order to disallow a part of incidental dividend income earned on said investment

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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