DCIT vs. M/S SUBRAMANYA CONSTRUCTION & DEVELOPERS COMPANY LTD.,,

In the result, the appeal of the revenue is dismissed whereas the

Bench: Shri Rajpal Yadav & Shri Abraham P George

68,720/-. It had earned a dividend income of Rs.33,600/- which was claimed exempt. AO found that assessee had investments totaling to Rs.63,49,38,874/- in equity shares at the year end. The AO further noted assessee had charged in its P&L account interest of Rs.33,93,15,003/-. A proposal was made to disallow the expenditure

JCIT, BANGALORE vs. M/S CANARA BANK, BANGALORE

In the result, appeal by the revenue is partly allowed