Dy. CIT v. Anjani Portland Cement Ltd. & ViceVersa

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The Tax Publishers2018 TaxPub(DT) 2619 (Hyd-Trib) Dy. CIT v. Anjani Portland Cement Ltd. & Vice-Versa INCOME TAX ACT, 1961 --Disallowance under section 14A--Expenditure against exempt incomeNo exempt income during the year----In the absence of any dividend income, section 14A was not applicable to assessee's case.--AO noticed assessee's investment in share capital and invoked section 14A. Assessee's case was that no tax free dividend income was received during the year. *Held:* In the absence of any dividend income, section 14A was not applicable to assessee's case. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2018 TaxPub(DT) 2619 (Hyd-Trib)

Dy. CIT v. Anjani Portland Cement Ltd. & Vice-Versa

INCOME TAX ACT, 1961

--Disallowance under section 14A--Expenditure against exempt incomeNo exempt income during the year----In the absence of any dividend income, section 14A was not applicable to assessee's case.--AO noticed assessee's investment in share capital and invoked section 14A. Assessee's case was that no tax free dividend income was received during the year. Held: In the absence of any dividend income, section 14A was not applicable to assessee's case.