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2019 (2) TMI 1054 - AT - Income TaxDisallowance u/s 14A - investments made by the assessee in its subsidiary / group companies - Held that:- The issue under dispute is squarely covered in favour of the Revenue by the recent decision of the Hon’ble Supreme Court in the case of Maxopp investment Ltd. Vs. CIT [2018 (3) TMI 805 - SUPREME COURT OF INDIA] wherein the Hon’ble Supreme Court rejected the ‘dominant purpose theory’ for which investments in shares were made in group companies or subsidiary companies. The Hon’ble Supreme Court further held that the provisions of section 14A of the Act are applicable irrespective of the fact whether the investments were made in order to gain control or held as stock-in-trade - Decided in favour of revenue.
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