Monday 7 July 2014

Investment to acquire controlling stake in a group co. and not to earn any income won’t attract sec.

IT : Where assessee made certain investment with an object of acquiring controlling stake in a group concern and not for earning any income out of investment, Assessing Officer was not justified in invoking provisions of section 14A, read with Rule 8D in order to disallow a part of incidental dividend income earned on said investment


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