TAX UPDATES: Share application money cannot be considered as investment which is likely to earn tax free dividend income. Hence, there can be no disallowance u/s 14A of the Act.[Para 7]-M/s. LGW Limited ITA No.267/Kol/2013 Date of Pronouncement : 07.10.2015.

Friday 9 October 2015

Share application money cannot be considered as investment which is likely to earn tax free dividend income. Hence, there can be no disallowance u/s 14A of the Act.[Para 7]-M/s. LGW Limited ITA No.267/Kol/2013 Date of Pronouncement : 07.10.2015.

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