Tribunal held that even a holding company making investments in subsidiaries could be regarded as carrying on business activity.
In a significant relief for NDTV, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has partly allowed the company’s appeal for the Assessment Year 2014–15. The Tribunal set aside disallowances related to business expenses and Section 14A, while remanding the issue of directors remuneration back to the Assessing Officer for fresh verification. The…
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