2015 (12) TMI 1769

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.... CM No. 30046/2015 (for condonation of delay in filing the appeal) in ITA No. 939/2015 CM No. 30047/2015 (for condonation of delay in filing the appeal) in ITA No. 940/2015 1. For the reasons stated in the applications, the delay in filing the respective appeals is condoned. 2. The applications are disposed of. ITA Nos. 939 of 2015 & 940 of 2015 3. These appeals by the Revenue under Sectio....

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....t allowable, is not tenable since bonds held as stock-in-trade can be valued at market rate or cost whichever is less. 6. The second issue concerns the claim of the Assessee that it incurred no expenditure, other than the administrative expenses, for earning dividend income. Under Section 14A(2) of the Act read with Rule 8D of the Income Tax Rules, 1962 ('Rules'), the Assessing Officer ('AO') is ....