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Section 14A Disallowance also on Strategic investments
Case Law Details
- Case Name
- CIT Vs Alpha G. Corp Development Ltd. (Delhi high Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09, 2011-12 and 2012-13
- Courts
- All High Courts, Delhi High Court
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CIT Vs Alpha G. Corp Development Ltd. (Delhi high Court)
High Court held that strategic investments have to be considered for disallowance under Section 14A but assessee is entitled to contend that the investments are legacy Investments or one-time investment and that there is in fact no expenditure incurred to earn the tax-free income.
FULL TEXT OF THE HIGH COURT ORDER / JUDGEMENT
The question of law framed by this Court in all the three appeals is as follows:
“Did the Income Tax Appellate Tribunal (ITAT) fall into error in holding that the disallowance under Section 14-A of the Income...
