Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Assessee held shares as stock-in-trade for trading purposes, not to earn dividend income. HC held provisions of Section 14A disallowing expenses relatable to exempt income inapplicable as no exempt income accrued. Where shares held as stock-in-trade, earning dividend immaterial; purpose is to trade by selling when price rises to earn profits. Situation differs from holding shares to retain control over investee company and intentionally earning dividend. Decided against revenue.
Assessee held shares as stock-in-trade for trading purposes, not to earn dividend income. HC held provisions of Section 14A disallowing expenses relatable to exempt income inapplicable as no exempt income accrued. Where shares held as stock-in-trade, earning dividend immaterial; purpose is to trade by selling when price rises to earn profits. Situation differs from holding shares to retain control over investee company and intentionally earning dividend. Decided against revenue.
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