![Only Investments Yielding Exempt Income Can Be Considered Under Section 14A: ITAT Dismisses Revenue’s Appeal Against Assessee [Read Order]](https://images.taxscan.in/h-upload/2025/07/31/500x300_2071413-investments-yielding-exempt-income-considered-under-section-14a-itat-dismisses-revenues-appeal-against-assessee-taxscan.webp "Only Investments Yielding Exempt Income Can Be Considered Under Section 14A: ITAT Dismisses Revenue’s Appeal Against Assessee [Read Order]")
Only Investments Yielding Exempt Income Can Be Considered Under Section 14A: ITAT Dismisses Revenue’s Appeal Against Assessee [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) recently upheld the order of the Commissioner ofIncome Tax (Appeals) [CIT(A)], bringing...
![Relief to Bank of Nova scortia: ITAT allows Expenditure incurred towards earnings interest income exempt u/s 10 (15) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Bank-of-Nova-scortia-ITAT-Expenditure-interest-income-exempt-us-10-15-TAXSCAN.jpg "Relief to Bank of Nova scortia: ITAT allows Expenditure incurred towards earnings interest income exempt u/s 10 (15) [Read Order]")
![Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Investments-yielded-exempt-Income-considered-for-purpose-of-working-out-Disallowance-ITAT-Aditya-Birla-TAXSCAN.jpg "Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]")
![ITAT deletes Addition of Disallowance u/s 14A of Income Tax Act on Computation of Book Profit u/s 115JB [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-deletes-Addition-of-DisallowanceIncome-Tax-Act-on-Computation-of-Book-Profit-TAXSCAN.jpg "ITAT deletes Addition of Disallowance u/s 14A of Income Tax Act on Computation of Book Profit u/s 115JB [Read Order]")
![Earning Interest Income from Inter-Corporate Deposit is Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/interest-income-Inter-corporate-Deposit-business-income-ITAT-taxscan.jpeg "Earning Interest Income from Inter-Corporate Deposit is Business Income: ITAT [Read Order]")
![Disallowance u/s 14A r/w Rule 8D can’t be made while computing Book profit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/06/Book-Profit-Taxscan.jpg "Disallowance u/s 14A r/w Rule 8D can’t be made while computing Book profit: ITAT [Read Order]")
Assessment can’t be Re-Opened for mere Non-Disclosure of method used for Calculation of Disallowance under Section 14A: ITAT [Read Order]
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...
![Assessment can’t be Re-Opened for mere Non-Disclosure of method used for Calculation of Disallowance under Section 14A: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Revisional-Assessment-Taxscan.jpg "Assessment can’t be Re-Opened for mere Non-Disclosure of method used for Calculation of Disallowance under Section 14A: ITAT [Read Order]")
Expenditure incurred to earn exempt Income computed u/s 14A can’t be added while computing Book Profit: ITAT [Read Order]
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...
![Expenditure incurred to earn exempt Income computed u/s 14A can’t be added while computing Book Profit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/ITAT-Taxscan.jpg "Expenditure incurred to earn exempt Income computed u/s 14A can’t be added while computing Book Profit: ITAT [Read Order]")
![No Disallowance u/s 14A when Shares held as Stock-in-Trade: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/07/Shares-TaxScan.jpg "No Disallowance u/s 14A when Shares held as Stock-in-Trade: ITAT [Read Order]")
When CIT (A) reduced Quantum of Disallowance u/s 14A and assessee accepted it, Filing of Cross-Objection after 4 years is not proper: Delhi HC [Read Judgment]
The Delhi High Court recently said that filing of cross-objection after 4 years is not proper when assessee accepted the disallowance under section 14A of the Income Tax Act made by the CIT (A) years...
![When CIT (A) reduced Quantum of Disallowance u/s 14A and assessee accepted it, Filing of Cross-Objection after 4 years is not proper: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Delhi-High-Court-Tax-Scan-1.jpg "When CIT (A) reduced Quantum of Disallowance u/s 14A and assessee accepted it, Filing of Cross-Objection after 4 years is not proper: Delhi HC [Read Judgment]")
Disallowance under Rule 8D cannot be made merely on ground of ‘Change of Opinion’: Delhi HC [Read Judgment]
The High Court of New Delhi including Justice Mr.Sanjiv Khanna and Ms.Prathiba M.Singh quashed the reassessment order of the revenue by holding that the Assessing Officer cannot disallow any claim...
![Disallowance under Rule 8D cannot be made merely on ground of ‘Change of Opinion’: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/01/Re-Assessment-Taxscan.jpg "Disallowance under Rule 8D cannot be made merely on ground of ‘Change of Opinion’: Delhi HC [Read Judgment]")
CIT cannot exercise its revision powers when the AO allowed the claim of the assessee after proper examination: ITAT Kolkata [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal, in a recent decision held that the Commissioner of Income Tax (CIT) cannot exercise its revision powers under section 263 of the Income Tax Act,...
![CIT cannot exercise its revision powers when the AO allowed the claim of the assessee after proper examination: ITAT Kolkata [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Assessing-Officer.jpg "CIT cannot exercise its revision powers when the AO allowed the claim of the assessee after proper examination: ITAT Kolkata [Read Order]")