![Disallowance of Interest u/s 14A should be made with reference to Net Interest Loan, not on Gross Interest: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-2-Tax-Scan.jpg "Disallowance of Interest u/s 14A should be made with reference to Net Interest Loan, not on Gross Interest: Bombay HC [Read Judgment]")
Disallowance of Interest u/s 14A should be made with reference to Net Interest Loan, not on Gross Interest: Bombay HC [Read Judgment]
In CIT v. Jubiliant Enterprises Pvt. Ltd, the division bench of the Bombay High Court confirmed that the disallowance of interest under Section 14A of...
![No Disallowance with respect to Exempt Income can be made if the Securities are held as Stock-in-Trade: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/07/Shares-TaxScan.jpg "No Disallowance with respect to Exempt Income can be made if the Securities are held as Stock-in-Trade: Calcutta HC [Read Order]")
![Retainership Fee Paid to the Advisor cannot be disallowed when the service was availed for Gaining both Taxable and Exempted Income: Kolkata ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "Retainership Fee Paid to the Advisor cannot be disallowed when the service was availed for Gaining both Taxable and Exempted Income: Kolkata ITAT [Read Order]")
![Penalty is not Leviable on Ground of Disallowance of Depreciation: ITAT Ahmedabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "Penalty is not Leviable on Ground of Disallowance of Depreciation: ITAT Ahmedabad [Read Order]")
![‘Privilege Fee’ is allowable as Expenditure u/s 37 of Income Tax Act: ITAT Hyderabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "‘Privilege Fee’ is allowable as Expenditure u/s 37 of Income Tax Act: ITAT Hyderabad [Read Order]")
Disallowance of Input Tax Credit is not an ‘Error’ to be rectified u/s 66 of KVAT Act: Kerala HC [Read Judgment]
In a recent ruling, the single bench of the Kerala High Court held that disallowance of the input tax credit by the assessing officer cannot be a ground for invoking s. 66 of the KVAT Act since it is...
Penalty cannot be levied on Non-disallowance of Expenditure by the assesee on bonafide belief: ITAT Mumbai [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal, Mumbai, if the assessee does not make disallowance u/s 43-Bin bonafide belief, then the Revenue cannot impose penalty under section 271(1)(c) of...
![Penalty cannot be levied on Non-disallowance of Expenditure by the assesee on bonafide belief: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Penalty-Tax-Scan.jpg "Penalty cannot be levied on Non-disallowance of Expenditure by the assesee on bonafide belief: ITAT Mumbai [Read Order]")
Assessee is free to extend credit facility to any concern; AO cannot compel them for conducting the Business: ITAT Ahmedabad [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal, in recent ruling opined that the assessee is free to choose the concerns to which it wants to extend the credit facility. The Assessing...
S. 14A is Applicable in case of Disallowance on account of Expenditure incurred from Exempt Income in the form of Dividend: ITAT Kolkata [Read Order]
The ITAT Kolkata in a recent ruling held that the provisions of section 14A of the Income Tax Act can be invoked to make a disallowance on account of expenditure incurred in relation to the exempt...
![S. 14A is Applicable in case of Disallowance on account of Expenditure incurred from Exempt Income in the form of Dividend: ITAT Kolkata [Read Order]](/images/placeholder.jpg "S. 14A is Applicable in case of Disallowance on account of Expenditure incurred from Exempt Income in the form of Dividend: ITAT Kolkata [Read Order]")