M/S. LUCINA LAND DEVELOPMENT LTD.,NEW DELHI vs. ACIT, NEW DELHI
In the result, grounds no
ITA 962/DEL/2017[2012-13]Status: DisposedITAT Delhi26 Nov 2021AY 2012-13
Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2012-13 M/S. Lucina Land Vs. Acit, Development Ltd., Circle-15(2), M-62 & 63, 1St Floor, New Delhi Connaught Place, New Delhi Pan :Aabcl2130N (Appellant) (Respondent)
Section 143(3)Section 234BSection 36Section 36(1)(iii)
gains from their sale and dividends from such holding, accordingly, the interest expenditure incurred by the appellant for purposes of acquiring these shares cannot be allowed u/s 36(l)(iii). For the reasons discussed in para 3.6 to 3.10 hereinabove, it is held that the addition made by the Assessing Officer by disallowing pro-rata interest in respect of interest
