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2017 (5) TMI 1699 - AT - Income TaxClaim of exemption u/s.10 (34) in respect of dividend income - Claim of depreciation to assessee trust - HELD THAT:- The issue under consideration is squarely covered by the decision of Bombay High Court in the case of Jasubhai Foundation [2015 (4) TMI 305 - BOMBAY HIGH COURT] . CIT(A) after considering the decision of Bombay High Court has directed the AO to allow assessee’s claim of exemption u/s.10(34) of dividend income received during the year after due verification. No infirmity in the order of CIT(A) for the direction so given by the AO, which is in terms of decision of the jurisdictional High Court in case of Jasubhai Foundation (supra). Appeal of the Revenue is dismissed.
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