This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Without receipt of exempted income, Section 14A cannot be invoked
Case Law Details
- Case Name
- Alliance infrastructure Projects Pvt. Ltd. Vs DCIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009- 10
- Courts
- All ITAT, ITAT Bangalore
Assessee engaged in the business of real estate and construction had filed its return for AY; 2009-10 declaring an income of Rs. 55,45,092/-and for AY: 2010-11 and an income of Rs. 8,07,253/-. During the course of assessment proceedings, it was noted by the AO that the assessee had investments worth Rs. 77,57,63,341/-in the form of shares in various companies and investment of Rs. 12,07,42,035/- in a partnership firm.
These investments which were made during the previous year relevant to AY: 2009-10 continued without change for AY : 2010-11 also. AO sought explanation from the assessee why a...
