Case Law Details
Case Name : Kulgam Holdings P. Ltd. Vs ACIT (ITAT Ahmedabad)
Related Assessment Year :
Courts :
All ITAT ITAT Ahmedabad
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Brief Facts of the Case
The AO observed that during the year the assessee has received dividend income of Rs.3,10,10,076/-, which is exempt under section 10 of the Act. The AO observed that the assessee is in receipt of considerable amount of exempt income, and no separate accounts have been maintained with regard to the earning of exempt income. The AO observed that the management and maintenance of such investments always entail certain administrative expenditure, such as, telephone expenditure etc. Therefore, he disallowed the proportionate amount of expenditure incurred out of the total...
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.
Direct link to download judgment does not work. unless we read the whole judgment no comment can be made. please try to make it convenient for users.