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Section 14A of Income...

Income Tax Dept comes down on Dabur India with Rs. 110 Cr Tax Demand

Manu Sharma

FMCG major Dabur India Limited has disclosed receiving an income tax reassessment order totaling ₹110.33 crore for the financial year 2017-18. The...

Relief to Thomson Press: ITAT Reduces 14A Disallowance from Rs. 7.67 Lakh to Rs. 6.31 Lakh [Read...

AO adds Rs. 64.88 lakh Expenditure u/s 14A citing Business nature: ITAT deletes addition due to...

S.68 cannot be invoked for non-appearance before AO when genuineness established through documents:...

Non-Furnishing of Approval u/s 151 to Assessee: Bombay HC quashes Income Tax Reassessment [Read...

Disallowance u/s 14A can be made only in Respect of Investments that yielded Tax-Free Income: ITAT [Read Order]

In a recent case, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the disallowance under section 14A of the Income Tax Act, 1961 can be made only in respect of investments...

Expenditure Attributable to Earning Exempt Income has to be Disallowed u/s 14A of Income Tax Act, Cannot be Treated as Business Expenditure: Supreme Court Rules In Favour of PNB Housing Finance

As a ruling in favour of PNB Housing Finance, the Supreme Court has held that expenditure attributable to earning exempt income has to be disallowed under section 14A of Income Tax Act, cannot...

Disallowance u/s 14A of Income Tax Act cannot exceed Exempt Income : ITAT [Read Order]

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...

Borrowing of Fund has direct Nexus with utilization towards interest-bearing Advances: ITAT deletes Disallowance [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench while deleting the disallowance under Section 14A of the Income Tax Act, ruled the Borrowing of funds has direct nexus with utilization...

Section 153C Assessment - ITAT - Karina Airlines International - Taxscan

Dividend derived from Shares held as Stock in Trade can’t be disallowed: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) in the case of Gajanan Enterprises vs. ACIT held that the dividend which is derived from the Shares which are ‘stock in shares’ will not be computed in the...