Supreme Court of India
Maxopp Investment Ltd. v. Commissioner of Income Tax, New Delhi
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
1 Supreme Court bench has cited this judgment.
What the Court ordered
We are of the opinion that the dominant purp ose for which the investment into shares is made by an assessee may not be relevant.
Judgment, page 26
From the headnote
Income Tax Act, 1961: s. 14A – Applicability of – To dividend income – In cases where dominant purpose of investment was to retain controlling interest in a Company/group of companies or where d ominant purpose was to have stock-in-trade – Whether domina nt purpose test or theory of apportionment to be applied for in terpreting the provision – Held: For interpreting s. 14A, dominant purpose for which investment into shares is made by an assessee, may not be relevant – Principle of appointment comes into play as that is the principle which is engrained in s. 14A – s. 14A is applicable to the
Authorities it was built on
Where later benches applied it
Of those, 1 referred to
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