![ITAT Dismisses Revenues Appeal as Tax Effect Falls Below Rs. 60 Lakhs, in Accordance with CBDT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Delhi-Income-Tax-Appellate-Tribunal-ITAT-Dismisses-Revenues-Appeal-Revenues-Appeal-taxscan.jpg "ITAT Dismisses Revenues Appeal as Tax Effect Falls Below Rs. 60 Lakhs, in Accordance with CBDT [Read Order]")
ITAT Dismisses Revenue's Appeal as Tax Effect Falls Below Rs. 60 Lakhs, in Accordance with CBDT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal filed by the Revenue as the tax effect was below Rs. 60 lakhs, and...
![S.14A Disallowance not Applicable when Exempt Income is not Gained: Delhi HC dismisses Income Tax Appeal against Sahara India Financial Corporation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Disallowance-Applicable-Exempt-Income-Gained-Delhi-HC-Income-Tax-Appeal-Sahara-India-Financial-Corporation-taxscan.jpg "S.14A Disallowance not Applicable when Exempt Income is not Gained: Delhi HC dismisses Income Tax Appeal against Sahara India Financial Corporation [Read Order]")
![Relief to Adani Wilmar: Notional Guarantee Income Increasing Investment Cost cannot be Treated as Actual Income, Rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Relief-to-Adani-Wilmar-Notional-Guarantee-Income-Increasing-Investment-Cost-Treated-Actual-Income-ITAT-taxscan.jpg "Relief to Adani Wilmar: Notional Guarantee Income Increasing Investment Cost cannot be Treated as Actual Income, Rules ITAT [Read Order]")
![Deletion of Addition u/s 14A of Income Tax Act: Allahabad HC dismisses Revenue Dept’s Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Deletion-of-Income-Tax-Act-Allahabad-HC-Revenue-Appeal-taxscan.jpg "Deletion of Addition u/s 14A of Income Tax Act: Allahabad HC dismisses Revenue Dept’s Appeal [Read Order]")
Interest Income is Assessable as Business Income: ITAT directs AO to Assess Interest Income under Head Income from Business [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) directed the Assessing officer to assess the interest income under the head "Income from Business," confirming that interest income is...
![Interest Income is Assessable as Business Income: ITAT directs AO to Assess Interest Income under Head Income from Business [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Mumbai-Interest-Income-is-Assessable-as-Business-Income-ITAT-Directs-AO-to-Assess-Interest-Income-TAXSCAN.jpg "Interest Income is Assessable as Business Income: ITAT directs AO to Assess Interest Income under Head Income from Business [Read Order]")
![Disallowance u/s 14A of Income Tax Act should be limited to Exempted Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Bangalore-Income-Tax-Disallowance-TAXSCAN.jpg "Disallowance u/s 14A of Income Tax Act should be limited to Exempted Income: ITAT [Read Order]")
Interest paid on borrowed Funds for Investment in Shares hit by Section 14A of Income Tax Act if Dividend received on Shares not part of total Income: Bombay HC [Read Order]
In a recent ruling the Bombay High Court held that the interest paid on borrowed funds for investment in shares hit by Section 14A of the Income Tax Act, 1961 if the dividend received on shares not...
![Interest paid on borrowed Funds for Investment in Shares hit by Section 14A of Income Tax Act if Dividend received on Shares not part of total Income: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Bombay-High-Court-Income-Tax-Interest-on-Borrowed-Funds-Investment-in-Shares-taxscan.jpg "Interest paid on borrowed Funds for Investment in Shares hit by Section 14A of Income Tax Act if Dividend received on Shares not part of total Income: Bombay HC [Read Order]")
Challenge on Disallowance u/s 14A of Income Tax Act to be restricted to exempt Income Earned: SC Condones delay in SLP filed by Income Tax Dept [Read Oder]
The Supreme Court condoned delay in special leave petition ( SLP ) filed by Income Tax Department in the matter regarding a challenge on disallowance under Section 14A of the Income Tax Act, 1961 to...
![Challenge on Disallowance u/s 14A of Income Tax Act to be restricted to exempt Income Earned: SC Condones delay in SLP filed by Income Tax Dept [Read Oder]](https://www.taxscan.in/wp-content/uploads/2024/02/Income-Tax-Supreme-Court-Special-leave-petition-SLP-Income-Tax-Department-Delay-condonation-taxscan.jpg "Challenge on Disallowance u/s 14A of Income Tax Act to be restricted to exempt Income Earned: SC Condones delay in SLP filed by Income Tax Dept [Read Oder]")
Disallowance u/s 14A IT Act shall not be made when no exempt Income is earned by Assessee [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that the disallowance under Section 14A of the Income Tax Act, 1961, should not be made since there is no exempt income earned by the...
![Disallowance u/s 14A IT Act shall not be made when no exempt Income is earned by Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Disallowance-IT-Act-Income-Itat-Mumbai-Income-Tax-Act-TAXSCAN.jpg "Disallowance u/s 14A IT Act shall not be made when no exempt Income is earned by Assessee [Read Order]")
Relief to Amazon Textiles: ITAT allows Suo motto Disallowance as Disallowance should not Exceed Exempt Income [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has granted relief to Amazon Textiles allowing suo motto disallowance as disallowance should not exceed the exempt income. The assessee,...
![Relief to Amazon Textiles: ITAT allows Suo motto Disallowance as Disallowance should not Exceed Exempt Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Relief-to-Amazon-Textiles-ITAT-Suo-motto-Disallowance-Disallowance-Exempt-Income-taxscan.jpg "Relief to Amazon Textiles: ITAT allows Suo motto Disallowance as Disallowance should not Exceed Exempt Income [Read Order]")
Disallowance u/s 14A of Income Tax can be triggered where no exempt Income has been earned: Delhi HC upholds Deletion of Disallowance [Read Order]
The Delhi High Court held that disallowance under section 14A of Income Tax Act, 1961 Can be triggered where no exempt income has been earned and upheld the deletion of disallowance. The...
![Disallowance u/s 14A of Income Tax can be triggered where no exempt Income has been earned: Delhi HC upholds Deletion of Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Disallowance-Income-Tax-Income-Tax-can-be-triggered-where-no-exempt-Income-Income-Delhi-HC-taxscan.jpg "Disallowance u/s 14A of Income Tax can be triggered where no exempt Income has been earned: Delhi HC upholds Deletion of Disallowance [Read Order]")