Case Law Details
Case Name : CCI Ltd vs. JCIT (Karnataka High Court)
Related Assessment Year :
Courts :
All High Courts Karnataka High Court
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Karnataka High Court
CCI Ltd vs. JCIT, 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
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