PRINCIPAL COMMISSINOEI? OF INCOME TAX AND ANOTHER v. GOLDMEN SACHS SERVICES P. LTD.

409 ITR 258High Court2018#1870 most cited

What is PRINCIPAL COMMISSINOEI? OF INCOME TAX AND ANOTHER v. GOLDMEN SACHS SERVICES P. LTD. authority for?

Disallowance under Section 14A towards interest expenditure is permissible when there is no direct nexus established between the borrowed funds and tax-exempt investments, particularly if tax-free investments have decreased.

61

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2021 to 2021.

Also referred to as

PRINCIPAL COMMISSINOEI? OF INCOME TAX AND ANOTHER v. GOLDMEN SACHS SERVICES P. LTD. · 409 ITR 258 · Section 14A disallowance · interest expenditure · tax-exempt investments · no direct nexus · borrowed funds · HDFC Bank followed · Karnataka High Court

Judgments citing PRINCIPAL COMMISSINOEI? OF INCOME TAX AND ANOTHER v. GOLDMEN SACHS SERVICES P. LTD.

M/S. Life Insurance Corporation of India, Thirthahalli vs. The Income Tax Officer (TDS) Ward, Davangere

In the result, the appeals filed by the assessee stands allowed for assessment years 2011-12 to 2014-15 on the legal issue and the appeals for assessment years 2015-

ITA 507/BANG/2020[2011-12]Status: DisposedITAT Bangalore21 Jan 2021AY 2011-12

Bench: Shri B.R Baskaran & Smt. Beena Pillai

For Appellant: Chytanya KK, AdvocateFor Respondent: Smt. R Premi, JCIT (DR)
Section 10Section 133ASection 192Section 201Section 201(1)

…1 (SC);  State Bank of India vs ADDL, CIT reported in 2020-TIOL-871-ITAT-BANG  Hon’ble Gujarat High Court in case of CIT vs Oil and Natural Gas Corporation Ltd., reported in 2020-TIOL-954-HC-AHM-IT  KS Chowdhri and others vs LIC of India reported in (2018) 409 ITR 258 (Delhi)  ACIT vs Infosys BPO Ltd reported in (2013) 37 Taxmann.com 53,  ACIT (TDs) vs Oracle India Ltd reported in (2013) 37Taxmann.com327,  Karnataka Power Transmission Corporation Ltd vs ITO (TDS) reported in (2019) 102 Taxmann.com 245, and  ACIT(TDS) vs SAP Labs India(P.)Ltd reported in (2013) 36 Taxmann.com 200 Page 31 of 74 ITA No.507 t…