https://www.taxtmi.com/caselaws?id=375427 The Tribunal allowed the Revenue's appeals concerning the disallowance under section 14A of the Income-tax Act for investments in subsidiary/group companies. Relying on the Supreme Court's decision in Maxopp Investment Ltd. Vs. CIT, the Tribunal rejected the 'dominant purpose theory' and upheld that section 14A applies regardless of the purpose of investments. It emphasized the need for apportionment of expenses for earning dividend income, even if investments were made for control or stock-in-trade purposes. The Tribunal's decision favored the Revenue, and the appeals were allowed on 20th December 2018. en-us Thu, 20 Dec 2018 00:00:00 +0530 Tue, 19 Feb 2019 07:36:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375427 The Tribunal allowed the Revenue's appeals concerning the disallowance under section 14A of the Income-tax Act for investments in subsidiary/group companies. Relying on the Supreme Court's decision in Maxopp Investment Ltd. Vs. CIT, the Tribunal rejected the 'dominant purpose theory' and upheld that section 14A applies regardless of the purpose of investments. It emphasized the need for apportionment of expenses for earning dividend income, even if investments were made for control or stock-in-trade purposes. The Tribunal's decision favored the Revenue, and the appeals were allowed on 20th December 2018. Case-Laws Income Tax Thu, 20 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375427