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Khandelwal Laboratories Pvt. Ltd. Versus CIT-6, Mumbai

Revision u/s. 263 - disallowance of STT u/s. 14A - Held that - Profit on sale of F & O transaction is amounting to ₹ 22,62,70,605/- which is shown as a taxable income. Therefore the STT paid on the derivative transactions is allowable as an expenditure w.e.f. AY 09-10 as amended by the Finance Act, 2008. The STT paid on sale of shares of L & T, the company has made a loss on these shares at ₹ 14,37,81,950/- which was offset with the capital gains. Therefore if the same is to ....... + More

 

 

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Khandelwal Laboratories Pvt. Ltd. Versus CIT-6, Mumbai

 

 

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