Matter remanded back for determining whether TDS is deductible if payment is not taxable as FTS

INCOME TAX : Where share capital and reserve and surplus of assessee-company were higher than investments made by it which were yielding exempt income and, further, no expenditure by way of interest, staff, conveyance, telephone, etc. was incurred by assessee for earning such exempt income, impugned disallowance made by Assessing Officer under section 14A read with rule 8D was unjustifiedINCOME TAX : Where share capital and reserve and surplus of assessee-company were higher than investments made by it which were yielding exempt income and, further, no expenditure by way of interest, staff, conveyance, telephone, etc. was incurred by assessee for earning such exempt income, impugned disallowance made by Assessing Officer under section 14A read with rule 8D was unjustifiedwww.taxmann.com Latest Case LawsRead More

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