Rule 8D(2)(ii) & (iii) not applies to shares held as stock-in-trade but S. 14A applies

ITAT KOLKATA BENCH ‘B’ Deputy Commissioner of Income-tax, Circle 6, Kolkata Versus Gulshan Investment Co. Ltd. IT Appeal No. 666 (Kol.) of 2012 [ASSESSMENT YEAR 2008-09] Date of pronouncement- 11.03.2013 ORDER Pramod Kumar, Accountant Member By way of this appeal, the Assessing Officer has challenged correctness of learned Commissioner (Appeals)’s order dated 21st January 2011, in the matter of assessment under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) for the assessment year 2008-09, on the following groun...