Friday, August 21, 2020

Sec. 14A disallowance rightly enhanced by AO considering volume of investments in shares and dividend earned

INCOME TAX : Where Assessing Officer having regard to volume of investment in shares and quantum of dividend income earned thereon, invoked provisions of Rule 8D of 1962 Rules, read with section 14A and enhanced amount of disallowance for earning exempt income, disallowance so made was to be confirmed

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