Read all Latest Updates on and about section 14A of the Income Tax Act 1961

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S. 14A Income Tax Explanation Provisions are not Retrospective: ITAT [Read Order]

Manu Sharma

In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Visakhapatnam Bench, has held that the Explanation to Section 14A of the Income...

No disallowance of expenditure u/s 14A of Income Tax Act in absence of dividend Income from...

Interest Expenditure not Claimed in Profit and Loss Account cannot be Treated as Revenue Expense for...

No Disallowance u/s 14A of Income Tax Act shall be made in Absence of any Exempt Income: ITAT [Read...

Dominant purpose of Investment holds No Consequence for Applicability of Section 14A read with rule...

Revisionary Powers u/s 263 can be Invoked on Account of Lack of Enquiry by AO: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench, has recently in an appeal filed before, held that revisionary powers under section 263 can be invoked on account of lack of enquiry by A.O....

Dividend from OMIFCO (Oman) Taxable as 'Other Income' in India: Delhi HC deletes Disallowance u/s 14A [Read Order]

A division bench of the Delhi High Court has held that the dividend received by the assessee from OMIFCO, Oman is chargeable to tax in India under the head "Income from other sources" and forms part...

No Question of Disallowance u/s 14A arises on Non-Receipt of Exempt Income during year under consideration: ITAT grants relief to TV Today Network [Read Order]

On granting relief to TV Today Network, the assessee the Income Tax Appellate Tribunal (ITAT), New Delhi held that no question of disallowance under Section 14A of the Income Tax Act, 1961 arises on...

No section 14A disallowance if there is no exempt income: ITAT grants relief to Tata Sky [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while upholding the order of CIT(A) held that if there is no exempt income then no disallowance of expenditure under section 14A of the Act can...

No Exempt Income Received or Receivable, No Disallowance under Section 14A: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai held that Section 14A of the Income Tax Act, 1961 will not apply if no exempt income is received or receivable during the relevant previous year. The...

Rule 8D notified by the CBDT on 24-03-2008 did not have Retrospective Application: ITAT Kolkata [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal, in a recent ruling held that Rule 8D notified by the Board on 24-03-2008 did not have retrospective application and therefore, the expenses at...

“Section 14A cannot be invoked in the absence of any exempt Income for the relevant Assessment Year”: ITAT Mumbai [Read Order]

The Income Tax Appellate Tribunal, in a recent ruling held that section 14A of the Income Tax Act, 1961 cannot be applied in cases where the assessee has not received any exempted income during the...