2018 (4) TMI 1875 - SC - Income Tax

Exemption u/s 11 - Contravention of Section 13(1)(d) - Dividend income - Tax at margin rate u/s 164 - trust received gift of TISCO Ltd. shares which were subsequently written off - Whether tax at margin rate u/s 164(2) is to be levied on the income earned from non-exempt asset - whether holding of ineligible assets is sufficient to attract the provisions of Section 13(1)(d)(iii)? - HELD THAT - Delay condoned. Leave granted.

Summary

Case: Supreme Court of India, 2018 (4) TMI 1875
Judges: Mr. Adarsh Kumar Goel and Mr. Navin Sinha
Representation: Petitioner - Mr. Vikramjit Banerjee, ASG; Respondent - Not specified
Decision: Delay condoned, Leave granted