272 CTR 282 (Del) CIT v. Lakhani Marketing Incl

272 CTR 265High Court2014#1834 most cited

What is 272 CTR 282 (Del) CIT v. Lakhani Marketing Incl authority for?

No disallowance of expenditure can be made when there is no income generated from the investment.

62

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2025.

Also referred to as

CIT v. Lakhani Marketing Industries · 272 CTR 265 · no disallowance of expenditure · no income from investment · exempt income

Sections most often in play

Section 14ASection 143(3)Section 144Section 147Section 148Section 80PSection 80P(2)(a)(i)Section 80P(2)(d)

Issues it is cited on

section 80absection 80jkelvinatormere change of opinionrevision u/s 263domestic companysection 80cforeign tax creditdisallowance under section 14asection 10(34)gross total incomedisallowance u/s 14a

Judgments citing 272 CTR 282 (Del) CIT v. Lakhani Marketing Incl

Assistant Commissioner of Income Tax, Panchkula Circle, Panchkula vs. The Haryana State Co-Operative Agriculture and Rural Development, Panchkula

Appeal is allowed

ITA 596/CHANDI/2024[2017-18]Status: DisposedITAT Chandigarh30 May 2025AY 2017-18

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

…Kindly refer ITR & Computation at APB pages Page 42-43 of APB. The CIT(A) appreciating these facts has allowed relief to the assessee on merits. For above, we rely upon the decisions in : a. HDFC Bank Ltd 366 ITR 505 (Bom HC) b. Lakhani Marketing Inc. (2014) 272 CTR 265 (P&H HC) c. Deepak Mittal (2014) 361 ITR 131 (P&H) d. Shivam Motors (P) Ltd. (2015) 230 Taxman 63 (All. HC) e. Vardhman Chemtech Private Ltd. dtd.22.04.2016 79. During hearing, the ld. DR argued that the assessee had made substantial investments and incurred significant interest expenditure of Rs. 156.71 crores during the year. Despite the assess…

The Haryana State Co-Operative Agriculture and Rural Development, Panchkula vs. Deputy Commissioner of Income Tax, Circleu��, Panchkula

Appeal is allowed

ITA 595/CHANDI/2024[2017-18]Status: DisposedITAT Chandigarh30 May 2025AY 2017-18

…Kindly refer ITR & Computation at APB pages Page 42-43 of APB. The CIT(A) appreciating these facts has allowed relief to the assessee on merits. For above, we rely upon the decisions in : a. HDFC Bank Ltd 366 ITR 505 (Bom HC) b. Lakhani Marketing Inc. (2014) 272 CTR 265 (P&H HC) C. Deepak Mittal (2014) 361 ITR 131 (P&H) d. Shivam Motors (P) Ltd. (2015) 230 Taxman 63 (All. HC) e. Vardhman Chemtech Private Ltd. ITA No.545/Chd/2015 dtd.22.04.2016 79. During hearing, the Id. DR argued that the assessee had made substantial investments and incurred significant interest expenditure of Rs.156.71 crores during the year.…

Assistant Commissioner of Income Tax, Panchkula Circle, Panchkula vs. The Haryana State Co-Operative Agriculture and Rural Development, Panchkula

Appeal is allowed

ITA 594/CHANDI/2024[2016-17]Status: DisposedITAT Chandigarh30 May 2025AY 2016-17

Bench: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

…Kindly refer ITR & Computation at APB pages Page 42-43 of APB. The CIT(A) appreciating these facts has allowed relief to the assessee on merits. For above, we rely upon the decisions in : a. HDFC Bank Ltd 366 ITR 505 (Bom HC) b. Lakhani Marketing Inc. (2014) 272 CTR 265 (P&H HC) c. Deepak Mittal (2014) 361 ITR 131 (P&H) d. Shivam Motors (P) Ltd. (2015) 230 Taxman 63 (All. HC) e. Vardhman Chemtech Private Ltd. dtd.22.04.2016 79. During hearing, the ld. DR argued that the assessee had made substantial investments and incurred significant interest expenditure of Rs. 156.71 crores during the year. Despite the assess…

The Haryana State Co-Operative Agriculture and Rural Development, Panchkula vs. Deputy Commissioner of Income Tax, Circle, Panchkula

Appeal is allowed

ITA 593/CHANDI/2024[2016-17]Status: DisposedITAT Chandigarh30 May 2025AY 2016-17

Bench: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

…Kindly refer ITR & Computation at APB pages Page 42-43 of APB. The CIT(A) appreciating these facts has allowed relief to the assessee on merits. For above, we rely upon the decisions in : a. HDFC Bank Ltd 366 ITR 505 (Bom HC) b. Lakhani Marketing Inc. (2014) 272 CTR 265 (P&H HC) c. Deepak Mittal (2014) 361 ITR 131 (P&H) d. Shivam Motors (P) Ltd. (2015) 230 Taxman 63 (All. HC) e. Vardhman Chemtech Private Ltd. dtd.22.04.2016 79. During hearing, the ld. DR argued that the assessee had made substantial investments and incurred significant interest expenditure of Rs. 156.71 crores during the year. Despite the assess…

The Haryana State Co-Operative Agriculture and Rural Development, Panchkula vs. Deputy Commissioner of Income Tax, Circle, Panchkula

Appeal is allowed

ITA 592/CHANDI/2024[2016-17]Status: DisposedITAT Chandigarh30 May 2025AY 2016-17

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

…Kindly refer ITR & Computation at APB pages Page 42-43 of APB. The CIT(A) appreciating these facts has allowed relief to the assessee on merits. For above, we rely upon the decisions in : a. HDFC Bank Ltd 366 ITR 505 (Bom HC) b. Lakhani Marketing Inc. (2014) 272 CTR 265 (P&H HC) c. Deepak Mittal (2014) 361 ITR 131 (P&H) d. Shivam Motors (P) Ltd. (2015) 230 Taxman 63 (All. HC) e. Vardhman Chemtech Private Ltd. dtd.22.04.2016 79. During hearing, the ld. DR argued that the assessee had made substantial investments and incurred significant interest expenditure of Rs. 156.71 crores during the year. Despite the assess…

Assistant Commissioner of Income Tax, Panchkula Circle, Panchkula vs. The Haryana State Co-Operative Agriculture and Rural Development, Panchkula

Appeal is allowed

ITA 591/CHANDI/2024[2015-16]Status: DisposedITAT Chandigarh30 May 2025AY 2015-16

Bench: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

…Kindly refer ITR & Computation at APB pages Page 42-43 of APB. The CIT(A) appreciating these facts has allowed relief to the assessee on merits. For above, we rely upon the decisions in : a. HDFC Bank Ltd 366 ITR 505 (Bom HC) b. Lakhani Marketing Inc. (2014) 272 CTR 265 (P&H HC) c. Deepak Mittal (2014) 361 ITR 131 (P&H) d. Shivam Motors (P) Ltd. (2015) 230 Taxman 63 (All. HC) e. Vardhman Chemtech Private Ltd. dtd.22.04.2016 79. During hearing, the ld. DR argued that the assessee had made substantial investments and incurred significant interest expenditure of Rs. 156.71 crores during the year. Despite the assess…

The Haryana State Co-Operative Agriculture and Rural Development, Panchkula vs. Deputy Commissioner of Income Tax, Circle, Panchkula

Appeal is allowed

ITA 590/CHANDI/2024[2015-16]Status: DisposedITAT Chandigarh30 May 2025AY 2015-16

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

…Kindly refer ITR & Computation at APB pages Page 42-43 of APB. The CIT(A) appreciating these facts has allowed relief to the assessee on merits. For above, we rely upon the decisions in : a. HDFC Bank Ltd 366 ITR 505 (Bom HC) b. Lakhani Marketing Inc. (2014) 272 CTR 265 (P&H HC) c. Deepak Mittal (2014) 361 ITR 131 (P&H) d. Shivam Motors (P) Ltd. (2015) 230 Taxman 63 (All. HC) e. Vardhman Chemtech Private Ltd. dtd.22.04.2016 79. During hearing, the ld. DR argued that the assessee had made substantial investments and incurred significant interest expenditure of Rs. 156.71 crores during the year. Despite the assess…

The Haryana State Co-Operative Agriculture and Rural Development, Panchkula vs. DCIT, Circle, Panchkula

Appeal is allowed

ITA 589/CHANDI/2024[2015-16]Status: DisposedITAT Chandigarh30 May 2025AY 2015-16

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

…Kindly refer ITR & Computation at APB pages Page 42-43 of APB. The CIT(A) appreciating these facts has allowed relief to the assessee on merits. For above, we rely upon the decisions in : a. HDFC Bank Ltd 366 ITR 505 (Bom HC) b. Lakhani Marketing Inc. (2014) 272 CTR 265 (P&H HC) c. Deepak Mittal (2014) 361 ITR 131 (P&H) d. Shivam Motors (P) Ltd. (2015) 230 Taxman 63 (All. HC) e. Vardhman Chemtech Private Ltd. dtd.22.04.2016 79. During hearing, the ld. DR argued that the assessee had made substantial investments and incurred significant interest expenditure of Rs. 156.71 crores during the year. Despite the assess…

The Haryana State Co-Operative Agriculture and Rural Development, Panchkula vs. DCIT, Circle, Panchkula

Appeal is allowed

ITA 588/CHANDI/2024[2014-15]Status: DisposedITAT Chandigarh30 May 2025AY 2014-15

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

…Kindly refer ITR & Computation at APB pages Page 42-43 of APB. The CIT(A) appreciating these facts has allowed relief to the assessee on merits. For above, we rely upon the decisions in : a. HDFC Bank Ltd 366 ITR 505 (Bom HC) b. Lakhani Marketing Inc. (2014) 272 CTR 265 (P&H HC) c. Deepak Mittal (2014) 361 ITR 131 (P&H) d. Shivam Motors (P) Ltd. (2015) 230 Taxman 63 (All. HC) e. Vardhman Chemtech Private Ltd. dtd.22.04.2016 79. During hearing, the ld. DR argued that the assessee had made substantial investments and incurred significant interest expenditure of Rs. 156.71 crores during the year. Despite the assess…

Anamika Conductors Pvt. Ltd., Jaipur vs. ACIT DCIT, Jaipur

In the result, the appeals of the assessee are allowed with no orders as to cost

ITA 40/JPR/2024[A.Y. 2015-16]Status: DisposedITAT Jaipur30 Sept 2024

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri G.M. Mehta, CAFor Respondent: Shri Anoop Singh, Addl. CIT-DR
Section 145(3)Section 14A

…s received from the investment made in equity shares of M/s. Anamika Oil Pvt. Ltd. therefore, no disallowance of interest cam be made in view of the decision of the Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Lakhani Marketing Industries (2014) 272 CTR 265 (P&H), Hon'ble Delhi High Court decision in the case of CIT Vs. Holcim India Pvt. Ltd. (2014) 272 CTR 282 (Del). Hon'ble Allahabad High Court decision in the case of Shuvam Motors Pvt. Ltd. (2014) 272 CTR 277 (All) and the decision of the Hon'ble Gujarat High Court in the case of CIT Vs. Corrtech Energy Pvt. Ltd. (2015) 376 ITR 97 (Guj). Respectf…

M/S. First Light Properties P. Ltd.(Earstwhile Known As M/S. Sumer Builders P. Ltd.), Mumbai vs. The DCIT, CC, 5(3), Mumbai

In the result ground of appeal raised by assessee is dismissed and stand of AO is confirmed

ITA 1768/MUM/2020[2016-17]Status: DisposedITAT Mumbai21 Jun 2022AY 2016-17

Bench: Shri Vijay Pal Rao & Shri Gagan Goyalm/S First Light Properties Pvt. Ltd. (Erstwhile Known As M/S Sumer Builders Pvt. Ltd.) 205, Commerce House, 140, Nagindas Master Road, For, Mumbai-400023 Pan: Aaacs7947P ...... Appellant Vs. Dcit, Cc-5(3), Room No. 1906, 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. ..... Respondent Appellant By : Sh. Nishit Gandhi Respondent By : Sh. Sandip Raj, Cit-Dr Date Of Hearing : 29/03/2022 Date Of Pronouncement : 21/06/2022 Order Per Gagan Goyal, A.M:

For Appellant: Sh. Nishit GandhiFor Respondent: Sh. Sandip Raj, CIT-DR
Section 14A

…income nor claimed any exempt income and therefore disallowance under section 14A of the Act is not tenable. The assessee placed reliance on following judicial pronouncements: 1) Cheminvest Ltd vs CIT 378 ITR 33 (Delhi) 2) CIT vs Lakhani Marketing Inc-(2014) 272 CTR 265 (Punjab & Haryana) 3) CIT vs Winsome Textile Industries Ltd-(2009) 319 ITR 204 (Punjab & Haryana) 4) CIT vs Corrtech Energy (P) Ltd-(2014) 272 CTR 262 (Gujarat) 5) CIT vs Shivam Motors (P) Ltd (2015) 272 CTR 277 (Allahabad) 6) Pr. CIT vs M/s Ballarpur Industries Ltd-ITA No. 51 of 2016 (Bombay) Further the assessee stated that the assessee is havi…

DCIT, New Delhi vs. M/S. Genesis Colors Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 3731/DEL/2017[2011-12]Status: DisposedITAT Delhi29 Apr 2022AY 2011-12

Bench: Shri G.S.Pannu & Shri Kul Bharat

Section 143(3)Section 14ASection 36(1)(iii)Section 40A(3)Section 40aSection 80G

…he impugned assessment year, the rule 8D was not applicable. The Ld AR relied on the following case laws:- i) M/s Cheminvest Ltd vs CIT (2015) 378 ITR 33 Delhi ii) CIT vs Willson Textile Industries Ltd (2009) 319 ITR 204 iii) CIT vs M/s Lakhani Marketing Inc. 272 CTR 265 (2008) (P&H) Considering the submission of the appellant and judicial consensus in favour of the appellant that if there is no exempt income, disallowance u/s 14A cannot be made. I am of the opinion that the disallowance u/s 14A r.w. Rule 8D by the Assessing Officer was not warranted. The same is, therefore, deleted.” 47. From the above finding o…

M/S Genesis Color Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 3472/DEL/2017[2011-12]Status: DisposedITAT Delhi29 Apr 2022AY 2011-12

Bench: Shri G.S.Pannu & Shri Kul Bharat

Section 143(3)Section 14ASection 36(1)(iii)Section 40A(3)Section 40aSection 80G

…he impugned assessment year, the rule 8D was not applicable. The Ld AR relied on the following case laws:- i) M/s Cheminvest Ltd vs CIT (2015) 378 ITR 33 Delhi ii) CIT vs Willson Textile Industries Ltd (2009) 319 ITR 204 iii) CIT vs M/s Lakhani Marketing Inc. 272 CTR 265 (2008) (P&H) Considering the submission of the appellant and judicial consensus in favour of the appellant that if there is no exempt income, disallowance u/s 14A cannot be made. I am of the opinion that the disallowance u/s 14A r.w. Rule 8D by the Assessing Officer was not warranted. The same is, therefore, deleted.” 47. From the above finding o…

M/S Genesis Color Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 3471/DEL/2017[2010-11]Status: DisposedITAT Delhi29 Apr 2022AY 2010-11

Bench: Shri G.S.Pannu & Shri Kul Bharat

Section 143(3)Section 14ASection 36(1)(iii)Section 40A(3)Section 40aSection 80G

…he impugned assessment year, the rule 8D was not applicable. The Ld AR relied on the following case laws:- i) M/s Cheminvest Ltd vs CIT (2015) 378 ITR 33 Delhi ii) CIT vs Willson Textile Industries Ltd (2009) 319 ITR 204 iii) CIT vs M/s Lakhani Marketing Inc. 272 CTR 265 (2008) (P&H) Considering the submission of the appellant and judicial consensus in favour of the appellant that if there is no exempt income, disallowance u/s 14A cannot be made. I am of the opinion that the disallowance u/s 14A r.w. Rule 8D by the Assessing Officer was not warranted. The same is, therefore, deleted.” 47. From the above finding o…

Gopal Das Estates & Housing Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is partly allowed for

ITA 2576/DEL/2015[2011-12]Status: DisposedITAT Delhi04 Feb 2022AY 2011-12

Bench: Shri G.S.Pannu & Shri Kul Bharat

Section 143(3)Section 14ASection 23

…s well established by a series of decisions of various High Courts that Section 14A can be invoked only if there is some exempt income. In the absence of any exempt income Section 14A has no play. The decisions are in: • CIT vs. Lakhani Marketing Incl. (2014) 272 CTR 265 (P&H) • ClT vs. Winsome Textile Industries Ltd. (2009) 319 ITR 204 (P&H) • CIT vs. Holcim India Pvt. Ltd. (2014) 272 ITR 282 (Del) • JCIT Vs. Holland Equipment Co. (2005) 3 SOT 810 (Mum); • CIT Vs. Hero Cycles Ltd. (2010) 323 ITR 518 (P&H); • ClT Vs. Metalman Auto P. Ltd. (2011) 336 ITR 434 (P&H); • Godrej & Boyce Mfg. Co. Ltd. vs. DClT (2010) 32…

DCIT, Circle- 4(1), Gurgaon vs. Uniquest Infra Ventures Pvt. Ltd., Gurgaon

In the result, appeal of the Revenue is dismissed

ITA 4940/DEL/2018[2015-16]Status: DisposedITAT Delhi05 Jan 2022AY 2015-16

Bench: Sh. Anil Chaturvedi & Sh. Narender Kumar Choudhary(Through Video Conferencing) Dcit Vs. M/S. Uniquest Infra Circle – 4(1), Ventures Pvt. Ltd., Gurgaon 3Rd Floor, Tower – B, Cyber Greens, Sec-25A, Dlf City, Phase – Iii, Gurgaon Pan : Aabuc 2595 C (Appellant) (Respondent)

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’, NEW DELHI BEFORE SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SH. NARENDER KUMAR CHOUDHARY, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCING) DCIT Vs. M/s. Uniquest Infra Circle – 4(1), Ventures Pvt. Ltd., Gurgaon 3rd Floor, Tower – B, Cyber Greens, Sec-25A, DLF City, Phase – III, Gurgaon PAN : AABUC 2595 C (APPELLANT) (RESPONDENT) Assessee by --None-- Revenue by Shri Atiq Ahmed, Sr. D.R. Date of hearing: 29.12.2021 Date of Pronouncement: 05.01.2022 ORDER PER ANIL CHATURVEDI, AM: This appeal filed by the Revenue is directed against the order dated 14.05.2018 o…

ACIT, New Delhi vs. M/S Krishak Bharati Cooperative Ltd., New Delhi

In the result, the appeal of the assessee in ITA No

ITA 2973/DEL/2017[2011-12]Status: DisposedITAT Delhi29 Dec 2021AY 2011-12

Bench: Shri Anil Chaturvedi & Shri Kul Bharat

Section 143(3)Section 14ASection 263

…2015 3. CIT v. Holcim India P. Ltd. (2014) 90 CCH 81 (Del) 4. CIT v. Shivam Motors 230 Taxman 63 (All) [ITA 88 of 2014 dated 5.5.2014] 5. CIT v. Cortech Energy Pvt. Ltd. 372 ITR 97 (Guj) [ITA NO.239/2014 dated 24.3.2014] 6. CIT v. Lakhani Marketing Ltd.(2014) 272 CTR 265 (P&H) [ITA NO.970/2008 dated 02.04.2014] 3.2.5 In the nutshell, it has been concluded that no dividend income has been received during the assessment year under consideration in respect of investments mentioned at serial no. 1,2,5,7,8,9 and11 of the above table Further, in respect of interest income from fertilizers company Govt. of 11 | P a g e…

ACIT, New Delhi vs. M/S Krishak Bharati Cooperative Ltd., New Delhi

In the result, the appeal of the assessee in ITA No

ITA 2972/DEL/2017[2010-11]Status: DisposedITAT Delhi29 Dec 2021AY 2010-11

Bench: Shri Anil Chaturvedi & Shri Kul Bharat

Section 143(3)Section 14ASection 263

…2015 3. CIT v. Holcim India P. Ltd. (2014) 90 CCH 81 (Del) 4. CIT v. Shivam Motors 230 Taxman 63 (All) [ITA 88 of 2014 dated 5.5.2014] 5. CIT v. Cortech Energy Pvt. Ltd. 372 ITR 97 (Guj) [ITA NO.239/2014 dated 24.3.2014] 6. CIT v. Lakhani Marketing Ltd.(2014) 272 CTR 265 (P&H) [ITA NO.970/2008 dated 02.04.2014] 3.2.5 In the nutshell, it has been concluded that no dividend income has been received during the assessment year under consideration in respect of investments mentioned at serial no. 1,2,5,7,8,9 and11 of the above table Further, in respect of interest income from fertilizers company Govt. of 11 | P a g e…

M/S. Krishak Bharti Cooperative Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee in ITA No

ITA 2342/DEL/2017[2011-12]Status: DisposedITAT Delhi29 Dec 2021AY 2011-12

Bench: Shri Anil Chaturvedi & Shri Kul Bharat

Section 143(3)Section 14ASection 263

…2015 3. CIT v. Holcim India P. Ltd. (2014) 90 CCH 81 (Del) 4. CIT v. Shivam Motors 230 Taxman 63 (All) [ITA 88 of 2014 dated 5.5.2014] 5. CIT v. Cortech Energy Pvt. Ltd. 372 ITR 97 (Guj) [ITA NO.239/2014 dated 24.3.2014] 6. CIT v. Lakhani Marketing Ltd.(2014) 272 CTR 265 (P&H) [ITA NO.970/2008 dated 02.04.2014] 3.2.5 In the nutshell, it has been concluded that no dividend income has been received during the assessment year under consideration in respect of investments mentioned at serial no. 1,2,5,7,8,9 and11 of the above table Further, in respect of interest income from fertilizers company Govt. of 11 | P a g e…

M/S. Krishak Bharti Cooperative Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee in ITA No

ITA 2341/DEL/2017[2010-11]Status: DisposedITAT Delhi29 Dec 2021AY 2010-11

Bench: Shri Anil Chaturvedi & Shri Kul Bharat

Section 143(3)Section 14ASection 263

…2015 3. CIT v. Holcim India P. Ltd. (2014) 90 CCH 81 (Del) 4. CIT v. Shivam Motors 230 Taxman 63 (All) [ITA 88 of 2014 dated 5.5.2014] 5. CIT v. Cortech Energy Pvt. Ltd. 372 ITR 97 (Guj) [ITA NO.239/2014 dated 24.3.2014] 6. CIT v. Lakhani Marketing Ltd.(2014) 272 CTR 265 (P&H) [ITA NO.970/2008 dated 02.04.2014] 3.2.5 In the nutshell, it has been concluded that no dividend income has been received during the assessment year under consideration in respect of investments mentioned at serial no. 1,2,5,7,8,9 and11 of the above table Further, in respect of interest income from fertilizers company Govt. of 11 | P a g e…

272 CTR 282 (Del) CIT v. Lakhani Marketing Incl (272 CTR 265) — Cited in 62 Judgments | BharatTax