Wednesday, 6 May 2015

No s. 14A and Rule 8D disallowance can be made for shares held as stock-in-trade


CIT vs. India Advantage Securities Ltd (Bombay High Court)




One can at best disallow the expenses which are incurred for earning dividend income. For that purpose, the figures under the head “Investment” could be taken and some charges apportioned for the purpose of computing the expenses
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