Case Law Details
Case Name : Interglobe Enterprises Ltd. Vs DCIT (ITAT Delhi)
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All ITAT ITAT Delhi
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The assessee had made significant investments in the shares of subsidiary companies which are definitely not for the purpose of earning exempt income. The Hon’ble Tribunal in I.T.A. No.3349/Del/2011 in the case of Promain Ltd., after relying upon a Kolkatta judgment of Tribunal in I.T.A. No.1331 has held that strategic investment has to be excluded for the purpose of arriving at disallowance under Rule 8D(iii). The Tribunal had relied upon the findings of Kolkatta Tribunal in the case of Please become a Premium member. If you are already a Premium member, login here to access the full content.
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