https://www.taxtmi.com/caselaws?id=220130 The Tribunal ruled in favor of the assessee, holding that disallowance under Section 14A read with Rule 8D of the Income Tax Act was not applicable as the dividend income was incidental to the business of trading in shares and securities. The Tribunal emphasized that no notional expenditure could be deducted when no actual expenditure was incurred in earning dividend income. Therefore, the addition made by the Assessing Officer was deleted, and the assessee's appeal was allowed. en-us Mon, 10 Dec 2012 00:00:00 +0530 Fri, 11 Jan 2013 10:27:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220130 The Tribunal ruled in favor of the assessee, holding that disallowance under Section 14A read with Rule 8D of the Income Tax Act was not applicable as the dividend income was incidental to the business of trading in shares and securities. The Tribunal emphasized that no notional expenditure could be deducted when no actual expenditure was incurred in earning dividend income. Therefore, the addition made by the Assessing Officer was deleted, and the assessee's appeal was allowed. Case-Laws Income Tax Mon, 10 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220130