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2022 (1) TMI 287 - AT - Income TaxDisallowance of depreciation on securities - HELD THAT:- We find that identical issue arose before the Co-ordinate Bench of Tribunal in assessee’s own case for A.Y. 2013-14 [2021 (7) TMI 622 - ITAT DELHI] and the Coordinate Bench of Tribunal, by following the order in assessee’s own case for A.Y. 2011-12 & 2012-13 [2019 (1) TMI 1654 - ITAT DELHI], deleted the addition. Disallowance of contribution to Punjab & Sind Bank Employees Pension Fund Trust under Section 36(1)(iv) - HELD THAT:- We find that identical issue arose before the Co-ordinate Bench of Tribunal in assessee’s own case for A.Y. 2013-14 [2021 (7) TMI 622 - ITAT DELHI] and the Coordinate Bench of Tribunal, by following the order in assessee’s own case for A.Y. 2011-12 & 2012-13 [2019 (1) TMI 1654 - ITAT DELHI], deleted the addition. Disallowance u/s 14A r.w.r. 8D - HELD THAT:- We find that identical issue arose before the Co-ordinate Bench of Tribunal in assessee’s own case for A.Y. 2013-14 [2021 (7) TMI 622 - ITAT DELHI] and the Coordinate Bench of Tribunal, by following the order in assessee’s own case for A.Y. 2011-12 & 2012-13 [2019 (1) TMI 1654 - ITAT DELHI], deleted the addition. as held ejecting the theory of dominant purpose in making investment in shares whether it was to acquire and retain controlling interest in the other company or to make profits out of the trading activity in such shares - clearly made a clear distinction between the dividend earned in respect of the shares which were acquired by the assessee in their exercise to acquire and retain the controlling interest in the investee company, and the shares that were purchased for the purpose of liquidating those shares whenever the share price goes up, in order to earn profits. It is, therefore, clear that though not the dominant purpose of acquiring the shares is a relevant for the purpose of invoking the provisions under section 14 A of the Act, the shares held as stock in trade stand on a different pedestal in relation to the shares that were acquired with an intention to acquire and retain the controlling interest in the investee company - no illegality or irregularity in the Ld. CIT(A) deleting the addition made by the Ld. AO under rule 8D (2) (ii) - Revenue appeal dismissed.
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