Read all Latest Updates on and about section 14A of the Income Tax Act 1961

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No Disallowance u/s 14A Where No Exempt Income Earned: ITAT Upholds Deletion of ₹15.42 Cr Addition for Adani Logistics [Read Order]

The Income Tax Appellate Tribunal, Ahmedabad Bench, held that no disallowance under Section 14A of the Income Tax Act, 1961 can be made where no...

ITAT Remands S. 14A Disallowance on Mutual Fund Investments for Fresh Verification, partly allowing...

S. 14A Income Tax Explanation Provisions are not Retrospective: ITAT [Read Order]

No disallowance of expenditure u/s 14A of Income Tax Act in absence of dividend Income from...

Interest Expenditure not Claimed in Profit and Loss Account cannot be Treated as Revenue Expense for...

No Disallowance u/s 14A of Income Tax Act shall be made in Absence of any Exempt Income: ITAT [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that no disallowances under Section 14A of the Income Tax Act, 1961 shall be made in the absence of any exempt income. The...

Dominant purpose of Investment holds No Consequence for Applicability of Section 14A read with rule 8D of rules: ITAT decides SBI’s case [Read Order]

The Income Tax Appellate Tribunal ( ITAT ),Mumbai Bench, has recently , in the appeals filed before it, while ruling in favor of SBI, held that dominant purpose of the investment holds no...

Revisionary Powers u/s 263 can be Invoked on Account of Lack of Enquiry by AO: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench, has recently in an appeal filed before, held that revisionary powers under section 263 can be invoked on account of lack of enquiry by A.O....

Dividend from OMIFCO (Oman) Taxable as 'Other Income' in India: Delhi HC deletes Disallowance u/s 14A [Read Order]

A division bench of the Delhi High Court has held that the dividend received by the assessee from OMIFCO, Oman is chargeable to tax in India under the head "Income from other sources" and forms part...

No Question of Disallowance u/s 14A arises on Non-Receipt of Exempt Income during year under consideration: ITAT grants relief to TV Today Network [Read Order]

On granting relief to TV Today Network, the assessee the Income Tax Appellate Tribunal (ITAT), New Delhi held that no question of disallowance under Section 14A of the Income Tax Act, 1961 arises on...

No section 14A disallowance if there is no exempt income: ITAT grants relief to Tata Sky [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while upholding the order of CIT(A) held that if there is no exempt income then no disallowance of expenditure under section 14A of the Act can...

No Exempt Income Received or Receivable, No Disallowance under Section 14A: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai held that Section 14A of the Income Tax Act, 1961 will not apply if no exempt income is received or receivable during the relevant previous year. The...