https://www.taxtmi.com/caselaws?id=381406 The court held that disallowance under Section 14-A of the Income Tax Act was warranted as the investments were not solely for strategic purposes. The Income Tax Appellate Tribunal's decision was overturned, and the case was remitted for further scrutiny regarding the expenditure attributability to dividend income. The court emphasized the need for specific expenditure disallowance for earning exempt dividend income and clarified the application of the principle of apportionment of expenses. The appeals were partly allowed, with all rights and contentions left open for future proceedings. en-us Thu, 25 Apr 2019 00:00:00 +0530 Mon, 10 Jun 2019 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381406 The court held that disallowance under Section 14-A of the Income Tax Act was warranted as the investments were not solely for strategic purposes. The Income Tax Appellate Tribunal's decision was overturned, and the case was remitted for further scrutiny regarding the expenditure attributability to dividend income. The court emphasized the need for specific expenditure disallowance for earning exempt dividend income and clarified the application of the principle of apportionment of expenses. The appeals were partly allowed, with all rights and contentions left open for future proceedings. Case-Laws Income Tax Thu, 25 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381406