Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Allowable deduction of interest paid on the borrowings - Section 14A and Section 36(1)(iii) - Exempted dividend income - Based on the discussions and findings, the court dismissed the appeal, affirming the decision of the ITAT. It upheld the disallowance of the interest expense, considering the provisions of Section 14A and the principles established in the Maxopp Investment Ltd. case. The expenditure incurred on interest paid on borrowed funds for investment in shares of the two companies, from which dividend income does not form part of the total income, was held to be hit by Section 14A of the Act and not allowable as deduction.
Allowable deduction of interest paid on the borrowings - Section 14A and Section 36(1)(iii) - Exempted dividend income - Based on the discussions and findings, the court dismissed the appeal, affirming the decision of the ITAT. It upheld the disallowance of the interest expense, considering the provisions of Section 14A and the principles established in the Maxopp Investment Ltd. case. The expenditure incurred on interest paid on borrowed funds for investment in shares of the two companies, from which dividend income does not form part of the total income, was held to be hit by Section 14A of the Act and not allowable as deduction.
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