This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
S. 14A applies to funds not directly attributable to either exempt or taxable income
Case Law Details
- Case Name
- Assistant Commissioner of Income Tax Vs Champion Commercial CoLt (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All ITAT, ITAT Kolkata
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
ACIT vs. Champion Commercial Co Ltd (ITAT Kolkata)
Once the revenue authorities have taken a particular stand about the applicability of formula set out in rule 8 D(2)(ii), and based on such a stand constitutional validity is upheld by Hon’ble High Court, it cannot be open to revenue authorities to take any other stand on the issue with regard to the actual implementation of the formula in the case of any assessee. Viewed thus, the correct application of the formula set out in rule 8D(2)(ii) is that, as has been noted by Hon’ble Bombay High Court in the case of Godrej and Boyce (supra), â€...
