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2011 (1) TMI 407 - PUNJAB AND HARYANA HIGH COURTApplicability of Sec.14A - Whether expenditure claimed by the assessee on the payment of interest on borrowed capital was admissible - The Tribunal remanded the matter to the Assessing Officer to determine the question as to how acquisition of shares in the earlier years was financed, in the context of applicability of Section 14A of the Act, no interference is called for at this stage - The Assessing Officer has to go into the question of admissibility of expenditure in relation of income which does not form part of the total income as required under Section 14A(1) of the Act - The question is accordingly answered against the assessee.
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