https://www.taxtmi.com/caselaws?id=460602 ITAT Kolkata ruled in favor of the assessee on two issues. First, Section 68 provisions were held inapplicable to barter transactions where shares were acquired through issuance of company shares rather than cash consideration, as clearly disclosed in balance sheet notes. Second, regarding Section 14A disallowance, the tribunal directed AO to consider only investments yielding dividend during the relevant year for Rule 8D calculations, following precedents from REI Agro Ltd. cases affirmed by Calcutta HC. No disallowance applies when dividend-yielding shares are held as stock-in-trade. en-us Wed, 23 Jan 2019 00:00:00 +0530 Tue, 04 Feb 2025 19:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460602 ITAT Kolkata ruled in favor of the assessee on two issues. First, Section 68 provisions were held inapplicable to barter transactions where shares were acquired through issuance of company shares rather than cash consideration, as clearly disclosed in balance sheet notes. Second, regarding Section 14A disallowance, the tribunal directed AO to consider only investments yielding dividend during the relevant year for Rule 8D calculations, following precedents from REI Agro Ltd. cases affirmed by Calcutta HC. No disallowance applies when dividend-yielding shares are held as stock-in-trade. Case-Laws Income Tax Wed, 23 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460602