Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Income Tax Act 1961 - s |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Allowed |
Headnote | Income Tax Act, 1961 - s. 14A - Expenditure incurred in relation to income not includible in total income - Phrase ''income which does not form part of total income under this Act in s. 14A - Scope of - If includes dividend income on shares in respect of which tax is payable u/s. 115-0 and income on units of mutual funds on which tax is payable u/s. 115-R - Held: s.14A would apply to dividend income on which tax is payable u/s. 115-O-: Plain reading of s.14A shows that the income must not be includible in the total income of the assessee - Once the said condition is satisfied, the expenditure incurred in earning the said income cannot be allowed to be deducted - Thus, s. l 4A would operate to disallow deduction of all expenditure incurred in earning the dividend income u/s. 115-O which is not includible in the total income of the assessee - On facts and in the circumstances of the assessees case, for the assessment year in question, the assessee is entitled to the benefit of clai111 of dividend income without any deduction - ss.115-O, 115-R. |
Judge | Honble Mr. Justice Ranjan Gogoi |
Neutral Citation | 2017 INSC 451 |
Petitioner | Godrej & Boyce Manufacturing Company Limited |
Respondent | Dy. Commissioner Of Income-tax & Anr. |
SCR | [2017] 3 S.C.R. 602 |
Judgement Date | 2017-05-08 |
Case Number | 7020 |
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