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Big Dividend, Real Costs: ITAT Upholds Rule 8D Disallowance
Case Law Details
- Case Name
- Trident Group Limited Vs DCIT (ITAT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Chandigarh
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Trident Group Limited Vs DCIT (ITAT Chandigarh)
₹1.02 Cr Disallowance u/s 14A Upheld: Large Investment Portfolio Cannot Be Managed at ‘Zero Cost’, Holds ITAT Chandigarh
The Chandigarh Bench “B” of the ITAT dismissed the appeal of M/s Trident Group Limited for AY 2017-18 and upheld disallowance of ₹1,02,44,219 u/s 14A r/w Rule 8D. The assessee had earned substantial exempt dividend income of ₹22.42 crore from an investment portfolio exceeding ₹124 crore and claimed that no expenditure, except ₹5,774 towards demat charges, was incurred to earn such income, asserting that invest...
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