Case Law Details
Case Name : ACIT Vs Bajaj Resources Ltd (ITAT Delhi)
Related Assessment Year : 2014-15
Courts :
All ITAT ITAT Delhi
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ACIT Vs Bajaj Resources Ltd (ITAT Delhi)
Conclusion: Disallowance could not be made on interest for earning exempt income under section 14A as assessee had available, non-interest-bearing funds larger than the investments made in tax- free securities.
Held: During the course of scrutiny assessment proceedings, AO noticed that assessee had claimed exemption in respect of dividend income of Rs. 62,07,50,000/- and profit in LLP of Rs. 198 crores. AO found tha
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