https://www.taxtmi.com/caselaws?id=303932 The High Court of Calcutta allowed the appeal concerning the delay in filing the appeal, citing sufficient cause for the delay. The court admitted the appeal on the inclusion of the amount received on forfeiture of shares in book profits for taxation, deeming it a substantial question of law. However, the appeal was not admitted regarding the disallowance of expenditure under section 14A read with rule 8D(2)(ii) of the Income Tax Act, as the court found no fault in the assessing officer's decision based on the usage of borrowed funds. en-us Fri, 08 Jun 2018 00:00:00 +0530 Fri, 26 Aug 2022 08:35:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303932 The High Court of Calcutta allowed the appeal concerning the delay in filing the appeal, citing sufficient cause for the delay. The court admitted the appeal on the inclusion of the amount received on forfeiture of shares in book profits for taxation, deeming it a substantial question of law. However, the appeal was not admitted regarding the disallowance of expenditure under section 14A read with rule 8D(2)(ii) of the Income Tax Act, as the court found no fault in the assessing officer's decision based on the usage of borrowed funds. Case-Laws Income Tax Fri, 08 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303932