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2018 (10) TMI 867 - HC - Income TaxDisallowance u/s 14A - assessee had earned dividend income - Held that:- Contention of the appellant-assessee that dividend income is not "exempt" income for the purpose of disallowance under Section 14A of the Income Tax Act, 1961 is a stale issue, which has already been answered in several cases We would clarify that the Assessing Officer while examining the question of disallowance under Section 14A would take into consideration all contentions and pleas of the appellant-assessee. Both the Assessing Officer and the appellant-assessee are bound by the ratio in Godrej and Boyce Manufacturing Company Ltd. (2017 (5) TMI 403 - SUPREME COURT OF INDIA) and Maxopp Investment Ltd. [2018 (3) TMI 805 - SUPREME COURT OF INDIA]
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