Tribunal held that Share application money pending allotment at year end-Not to be treated as investment yielding exempt income. (AY. 2012-13)
Kumar Urban Development Ltd. v. ITO (2020) 84 ITR 17 (SN) (Pune) (Trib.)
S. 14A : Disallowance of expenditure-Exempt income-Share application money pending allotment at year end-Not to be treated as investment yielding exempt income. [R. 8D]