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HC confirmed sec. 14A disallowance towards dividend earned on specified securities purchased on RBI directions

December 7, 2018[2018] 100 taxmann.com 41 (Calcutta)
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IT : Where pursuant to directions of RBI, assessee invested certain amount in specified securities, bonds etc. in order to continue its licence to carry on business as a residuary non-banking financial company, said securities/bonds could not be regarded as trading assets of assessee and, thus, impugned disallowance made under section 14A in respect of dividend income earned on said securities was to be upheld

IT : Where for relevant assessment year assessee paid its provident fund contribution beyond due date but before date of filing return under section 139(1), amount so paid could not be disallowed by invoking provisions of section 43B

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