Kolkata bench of Income Tax Appellate Tribunal in ACIT vs M/s Adhunik Metaliks Ltd dismissed the appeal of Revenue and ruled that disallowance u/s 14A of the Act read with Rule 8D can’t be made

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), while granting relief to Aditya Birla Nuvo group, held that the investment that had yielded the exempt income shall be considered for the purpose of

The Bombay High Court recently observed that the dissatisfaction should be recorded by the Assessing Officer (AO) regarding the correctness of the claim of assessee relating to the expenditure under Section 14A(2) of the Income

The Madras High Court ruled that disallowance under Section 14A of the Income Tax Act can not exceed the exempted income earned by the Assessee. The assessee, M/s.HTC Global Services India Pvt. Ltd. is a

The Banglore Bench of Income Tax Appellate Tribunal (ITAT) ruled that Section 14A Disallowance cannot exceed exempt income earned during the Assessment Year. The assessee, M/s.GMR Enterprises Pvt. Ltd. is a private limited company. For

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) in The Nainital Bank Ltd. vs. ACIT, held that Assessment can’t be reopened for mere non-disclosure of a method used for calculation of disallowance under

As a relief to United Breweries, the Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has held that disallowance under section 14A of the Income Tax Act,1961 is restricted to exempt income

Kolkata ITAT recently held that the expenditure incurred to earn exempt income computed under section 14A of the Income Tax Act could not be added while computing book profit under section 115JB of the Act.

The Mumbai Bench of the Income Tax Appellate Tribunal( ITAT ) held that there is no application of Section 14A Income Tax Act, if no exempt income received or receivable during relevant previous year, During

The Two member bench of Income Tax Appellate Tribunal ( ITAT ) of Bangalore held that disallowance under Section 14A of the Income Tax Act, 1961 should be limited to exempted income. The Assessee Ambika

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that no initiation of disallowances is required under Rule 8D(2)(i) if direct expenses are not debited to the profit and loss account of the

The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that the disallowance under Section 14A of the Income Tax Act, 1961, should not be made since there is no exempt income earned by the assessee.

The Income Tax Appellate Tribunal Delhi bench, comprising of judicial member SH.Amit Sukla and accountant member SH.O.P.Kant held that disallowance under section 14A of the act cannot exceed the amount of exempted income earned by

The Income Tax Appellate Tribunal (ITAT), Delhi bench, held that disallowance under Section 14A of the Income Tax Act, 1961, could not exceed exempt income. The assessee, Sara International Private Limited, is engaged in the

The Income Tax Appellate Tribunal ( ITAT ),Mumbai Bench, has recently , in  the appeals filed before it,  while ruling in favor of SBI, held that dominant purpose of the investment holds no consequence for