https://www.taxtmi.com/caselaws?id=763484 Section 14A disallowance was held unsustainable on dividend from shares and securities held as stock-in-trade because the exempt income was incidental to business holdings and expenditure had to be apportioned on the facts. Amortisation of premium on held-to-maturity securities was allowed because spreading the premium over the holding period reflected the true income position. Loss on transfer of securities from available for sale or held for trading to held to maturity was treated as a deductible business loss, while contribution to the employees' pension fund was allowed as business expenditure. Depreciation on goodwill arising from amalgamation required no interference, and no substantial question of law arose. en-us Fri, 06 Dec 2024 00:00:00 +0530 Thu, 19 Dec 2024 09:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763484 Section 14A disallowance was held unsustainable on dividend from shares and securities held as stock-in-trade because the exempt income was incidental to business holdings and expenditure had to be apportioned on the facts. Amortisation of premium on held-to-maturity securities was allowed because spreading the premium over the holding period reflected the true income position. Loss on transfer of securities from available for sale or held for trading to held to maturity was treated as a deductible business loss, while contribution to the employees' pension fund was allowed as business expenditure. Depreciation on goodwill arising from amalgamation required no interference, and no substantial question of law arose. Case-Laws Income Tax Fri, 06 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763484