Bank Charges & Bank Guarantee Charges Not Amounts to Interest: ITAT Deletes Disallowance u/s 14A of Income Tax Act [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that bank charges and bank guarantee charges do not partake in the character of...
![Disallowance under Income Tax Act cannot be based on Presumptions of Earning Dividend Income in future: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-tax-Dividend-Income-Dividend-Income-Taxation-taxscan.jpg "Disallowance under Income Tax Act cannot be based on Presumptions of Earning Dividend Income in future: ITAT [Read Order]")
![Disallowance of Interest on Delayed TDS Deposit and Service Tax without Bifurcation: ITAT directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Disallowance-of-Interest-Disallowance-Delayed-TDS-Deposit-TDS-Deposit-Service-Tax-without-Bifurcation-Service-Tax-Bifurcation-taxscan-ITAT-directs-Re-Adjudication-ITAT-Re-Adjudication-taxscan.jpg "Disallowance of Interest on Delayed TDS Deposit and Service Tax without Bifurcation: ITAT directs Re-Adjudication [Read Order]")
![“State cannot Clutch the Undue Benefit of Mistake Committed by Tax Payer”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Undue-Benefit-Tax-Payer-Tax-ITAT-Taxscan.jpg "“State cannot Clutch the Undue Benefit of Mistake Committed by Tax Payer”: ITAT [Read Order]")
![Disallowance u/s14A not required When Assessee has not earned any Exempt Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Disallowance-assessee-income-ITAT-taxscan.jpg "Disallowance u/s14A not required When Assessee has not earned any Exempt Income: ITAT [Read Order]")
Disallowance is Calculated based on Average Value of Share, Exempt Income earned as per Rule 8D(2)(iii): ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that as per rule 8D(2)(iii), the disallowance under 14A needs to calculate based on the average value of the share by exempt income...
![Disallowance is Calculated based on Average Value of Share, Exempt Income earned as per Rule 8D(2)(iii): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Disallowance-average-value-share-exempt-income-ITAT-Taxscan.jpeg "Disallowance is Calculated based on Average Value of Share, Exempt Income earned as per Rule 8D(2)(iii): ITAT [Read Order]")
Sec 14A and Rule 8D does not attract in case of Investment made in Subsidiary Companies: ITAT Mumbai [Read Order]
The ITAT, Mumbai bench, in the case ACIT v. ITD Cementation India Ltd, held that Section 14A of the Income Tax Act read with Rule 8D of the Income Tax Rules cannot be invoked in a case where the...
![Sec 14A and Rule 8D does not attract in case of Investment made in Subsidiary Companies: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "Sec 14A and Rule 8D does not attract in case of Investment made in Subsidiary Companies: ITAT Mumbai [Read Order]")
Sec 14A r/w Rule 8D of Income Tax Act have No Application when there is No Exempted Income: Madras HC [Read Judgment]
The division bench of the Madras High Court held that the AO cannot invoke section 14A of the Income Tax Act read with Rule 8d of the Income Tax Rules when the assessee does not derived exempted...
![Sec 14A r/w Rule 8D of Income Tax Act have No Application when there is No Exempted Income: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Madras-High-Court-Tax-Scan-1.jpg "Sec 14A r/w Rule 8D of Income Tax Act have No Application when there is No Exempted Income: Madras HC [Read Judgment]")
Tax exempted income earned through Bank Advertisement cannot attribute expenditure: Delhi HC [Read Order]
On an appeal against the order of the ITAT, the Delhi High Court opined that the question of attributing any expenditure cannot arise if the tax exempted income was earned without the interference of...
![Tax exempted income earned through Bank Advertisement cannot attribute expenditure: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Delhi-High-Court-Tax-Scan.jpg "Tax exempted income earned through Bank Advertisement cannot attribute expenditure: Delhi HC [Read Order]")