Case Law Details
Case Name : Dy. CIT Vs. Infina Finance (P) Ltd. (ITAT Mumbai)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Mumbai
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Dy. CIT Vs. Infina Finance (P) Ltd. (ITAT Mumbai)
Section 14A dis allowance was called for in case the assessee was holding shares as stock-in-trade, therefore, investments held as stock-in-trade do not attract dis allowance under section 14A.
FULL TEXT OF THE ITAT ORDER IS AS FOLLOWS:-
The captioned appeal by revenue for assessment year [AY] 2012-13 contest the order of the learned Commissioner (Appeals)-5 [CIT (A)], Mumbai, Appeal No. IT-473/14-15/266/15-16, date 15-2-2016 by raising the following grounds of appeal :–
“1. The Order of the Commissioner (Appeals) is opposed to law an...
This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
since the SC had decided negative, HC decisions are no more valid
OFFHAND
Implications of the recent ITAT Ruling in the two cases, reported @
https://taxguru.in/…/investments-held-as-stock-in-trade-do-…
https://taxguru.in/income-tax/in-absence-of-business-activities-interest-on-borrowed-capital-not-allowable.html
is worth closely examining, and incisively analyzing, keeping in focus the mutually contradicting views handed down by the HC and the SC in Maxopp’s case on issues u/s 14 A rw Rule 8D !