Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (12) TMI 648 - AT - Income TaxDisallowance u/s 14A – Held that:- Following M/s. CCI Ltd., vs. JCIT [2012 (4) TMI 282 - KARNATAKA HIGH COURT] – The provisions of section 14A are not made applicable to the case of dividend earned out of the shares held as stock-in-trade - The assessee had not retained the shares with the intention of earning dividend income which was incidental due to his sale of shares which remained unsold by the assessee - The assessee is liable to prove that the exempt income earned by him is out of the stocks held for trading purpose – The matter restored to the files of AO.
|