DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2(1), JABALPUR vs. MADHYA PRADESH POWER GENERATING CO. LTD., JABALPUR
In the result, the Revenue's appeal is dismissed as not maintainable
ITA 251/JAB/2018[2008-09]Status: DisposedITAT Jabalpur23 Feb 2022AY 2008-09
Bench: Shri Sanjay Arora, Hon’Ble & Shri Manomohan Das, Hon'Ble
For Appellant: Shri Rahul Bardia, CAFor Respondent: Shri S.K. Halder, DR
Section 115Section 143(3)Section 147Section 154Section 271(1)(c)
u/s. 14A, inserted only by Finance Act, 2001. The borrowed capital had been invested by the assessee in shares, stated to be purchased as a matter of business policy as an investment company, which had not yielded any dividend income for the relevant year. The claim, though confirmed for disallowance by the Tribunal, had been allowed
