Re: [aaykarbhavan] HC slams AO for making sec. 14A disallowance when interest free funds of assessee exceeded investment in shares

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From: Prarthana Jalan <prarthanajalan@ymail.com>;
To: lucknow-ca@yahoogroups.com <lucknow-ca@yahoogroups.com>; New_Delhi_CA Moderator <New_Delhi_CA-owner@yahoogroups.com>; bhilai-ca@yahoogroups.com <bhilai-ca@yahoogroups.com>; aaykarbhavan <aaykarbhavan@yahoogroups.com>; casofpune@yahoogroup.com <casofpune@yahoogroup.com>; Yahoo group <ICAI_CIRC_MEERUT_CA@yahoogroups.com>;
Subject: [aaykarbhavan] HC slams AO for making sec. 14A disallowance when interest free funds of assessee exceeded investment in shares
Sent: Wed, Mar 12, 2014 7:51:46 AM

HC slams AO for making sec. 14A disallowance when interest free funds of assessee exceeded investment in shares March 12, 2014[2014] 42 taxmann.com 270 (Gujarat) IT: Where assessee-company received dividend on UTI and shares and investment in same was made in earlier years and interest free funds available with assessee were much larger as compared to investment, disallowance of assessee's claim for interest expenditure by applying section 14A was wrong   Regards Prarthana Jalan

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