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Section 14A of the Act

Mutual Fund Stock-in-Trade Investments Must Be Excluded while Computing Disallowance u/s 14A: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ), held that mutual fund investments treated as stock-in-trade must be excluded while...

S.14A Disallowance under Income Tax Valid Only on Investments Earning Exempt Income: ITAT in Jindal...

Disallowance of Expenses u/s 14A: ITAT Allows Appeal Due to No Exempt Income [Read Order]

Dissatisfaction to be Recorded by AO regarding Correctness of Claim of Assessee Relating to...

No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than...

Dividends of Shares held as Stock-in-Trade not Deductible from Business Income: Delhi HC dismisses Appeal of PNB Housing Finance Ltd [Read Order]

In a recent ruling in favour of the Income Tax Department, a Division Bench of the Delhi High Court has held that, dividends of investments held as stock-in-trade are not deductible from the business...

Disallowance u/s14A not required When Assessee has not earned any Exempt Income: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Visakhapatnam held that disallowance u/s14A is not required when assessee has not earned any exempt income. The assessee, Sri K V Madhava Verma, being an...

Income from Portfolio Management Services is assessable under Capital Gains: ITAT [Read Order]

Income from Portfolio Management Services (PMS) is assessable under capital gains, so was held by Income Tax Appellate Tribunal (ITAT), Pune. The assessee, Arihant Patni is an individual deriving...

Vijaya Bank is a ‘Financial Company’ and is entitled to avail the benefit of Deduction u/s 36(1)(viii): Karnataka High Court [Read Judgment]

The Karnataka High Court held that the assessee, Vijaya Bank is a ‘Financial Company’ and is entitled to avail the benefit of deduction under Section 36(1)(viii) of the Income Tax Act. The...