https://www.taxtmi.com/caselaws?id=459009 The Tribunal upheld the deletion of the addition made by the Assessing Officer under section 14A of the Income-tax Act, 1961, concerning dividend income earned from shares held as stock in trade. It concluded that disallowance under section 14A is not applicable to such income, as the shares are held with the motive of earning trading profits, rendering the receipt of dividends immaterial. This decision aligns with the principles established by the Supreme Court in the Maxopp Investment Ltd case, thereby dismissing the Revenue's appeal and affirming the CIT (A)'s findings. en-us Thu, 22 Feb 2024 00:00:00 +0530 Tue, 26 Nov 2024 08:50:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459009 The Tribunal upheld the deletion of the addition made by the Assessing Officer under section 14A of the Income-tax Act, 1961, concerning dividend income earned from shares held as stock in trade. It concluded that disallowance under section 14A is not applicable to such income, as the shares are held with the motive of earning trading profits, rendering the receipt of dividends immaterial. This decision aligns with the principles established by the Supreme Court in the Maxopp Investment Ltd case, thereby dismissing the Revenue's appeal and affirming the CIT (A)'s findings. Case-Laws Income Tax Thu, 22 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459009