Disallowance u/s 14A - profits from shares where held as stock ...

Case Laws Income Tax

June 12, 2023

Disallowance u/s 14A - profits from shares where held as stock in trade and not as investments - The sum and substance of ratio laid down by the Hon’ble Supreme Court and the Hon’ble High Courts are that in case of banking companies were shares & securities are held as stock in trade, dividend income is considered as business income, and consequently, provisions of Sec. 14A of the Act, cannot be applied. - AT

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Disallowance u/s 14A - profits from shares where held as stock ...

Case Laws Income Tax

June 12, 2023

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