Dividend Income not to be Included in Total Income and is Exempt from Tax when the Shares are Held as “Stock-in-trade”: ITAT upholds Application of Section 14A of Income Tax Act [Read Order]

By Ipsita Das - On October 6, 2023 12:00 pm - 3 mins read

Dividend Income Total Income and is Exempt from Tax when the Shares - Stock-in-trade ITAT upholds Application - Income Tax Act -

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that Section 14A of Income Tax Act,1961 applies when shares are held as “stock -in-trade” for the purpose to trade in those shares and earn profits. The assessee Wealth First Portfolio Managers Pvt. Ltd. is engaged in the business of trading in shares and bonds,…

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