Disallowance of expenses related to shares held as stock-in-trade
Disallowance of expenses related to shares held as stock-in-trade: The Kolkata Bench of the Income-tax Appellate Tribunal held that the rules for expense disallowance under section 14A of the Income-tax Act, 1961 apply to shares held as stock-in-trade, but that such expense disallowance is limited to those shares that have yielded dividend income in the… Read More »