![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]")
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...
![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]](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]](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]](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]")
Disallowance cannot Exceed Exempt Income: ITAT upholds Deletion of Disallowance u/s 14A of Income Tax Act [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the deletion of disallowance under Section 14A of the Income Tax Act holding that the disallowance could not exceed the exempt...
![Disallowance cannot Exceed Exempt Income: ITAT upholds Deletion of Disallowance u/s 14A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Disallowance-cannot-Exceed-Exempt-Income-ITAT-upholds-Deletion-of-Disallowance-Exempt-Income-Deletion-of-Disallowance-Income-Tax-Act-Disallowance-Income-ITAT-under-section-14A-of-Income-Tax-Act.jpg "Disallowance cannot Exceed Exempt Income: ITAT upholds Deletion of Disallowance u/s 14A of Income Tax Act [Read Order]")
![Notice for hearings sent to wrong address: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Notice-wrong-address-ITAT-Readjudication-taxscan.jpg "Notice for hearings sent to wrong address: ITAT directs Readjudication [Read Order]")
Interest Bearing Funds Not Applied for the Purpose of Making Investments: ITAT Deletes Disallowance u/s 14A r.w.r 8D(2)(ii) of Income Tax Rules [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has deleted the disallowance made under Section 14A of the Income Tax Act 1961 read with Section 8D(2)(ii) of the Income Tax Rules 1962. ...
![Interest Bearing Funds Not Applied for the Purpose of Making Investments: ITAT Deletes Disallowance u/s 14A r.w.r 8D(2)(ii) of Income Tax Rules [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Interest-Funds-Investments-Interest-Bearing-Funds-Not-Applied-for-the-Purpose-of-Making-Investments-ITAT-taxscan.jpg "Interest Bearing Funds Not Applied for the Purpose of Making Investments: ITAT Deletes Disallowance u/s 14A r.w.r 8D(2)(ii) of Income Tax Rules [Read Order]")
Penalty u/s 271(1)(c) of Income Tax Act Cannot be Imposed on Payment made under Cost Sharing Arrangements on Basis of Non-existing and Deleted Disallowance: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that disallowance/addition on account of payment made under cost sharing arrangements has been deleted by the Tribunal in previous...
![Penalty u/s 271(1)(c) of Income Tax Act Cannot be Imposed on Payment made under Cost Sharing Arrangements on Basis of Non-existing and Deleted Disallowance: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Penalty-Income-Tax-Act-Income-Tax-Act-Cannot-be-Imposed-on-Payment-made-under-Cost-Sharing-Arrangements-Payment-ITAT-taxscan.jpg "Penalty u/s 271(1)(c) of Income Tax Act Cannot be Imposed on Payment made under Cost Sharing Arrangements on Basis of Non-existing and Deleted Disallowance: ITAT [Read Order]")
Disallowance under Rule 8D(2) (iii) of I.T Rules shall be made on basis of average value of those investments in which assessee has yielded exempt income: ITAT directs readjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bangalore bench, while directing readjudication in respect of exempt income observed that disallowance under Rule 8D(2)(iii) of the Income Tax Rules should be...
![Disallowance under Rule 8D(2) (iii) of I.T Rules shall be made on basis of average value of those investments in which assessee has yielded exempt income: ITAT directs readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Disallowance-Rule-I-T-Rules-average-value-investments-assessee-exempt-income-ITAT-readjudication-TAXSCAN.jpg "Disallowance under Rule 8D(2) (iii) of I.T Rules shall be made on basis of average value of those investments in which assessee has yielded exempt income: ITAT directs readjudication [Read Order]")
Disallowance of Expenditure u/s 14A can't be made when exempt Income-earning securities are held as Stock-in-trade: ITAT grants relief to Central Bank of India [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) while granting relief to the Central Bank of India, held that the disallowance of expenditure under Section 14a of the Income Tax Act,...
![Disallowance of Expenditure u/s 14A cant be made when exempt Income-earning securities are held as Stock-in-trade: ITAT grants relief to Central Bank of India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Disallowance-of-Expenditure-Income-earning-securities-Stock-in-trade-ITAT-grants-relief-Central-Bank-of-India-taxscan.jpg "Disallowance of Expenditure u/s 14A cant be made when exempt Income-earning securities are held as Stock-in-trade: ITAT grants relief to Central Bank of India [Read Order]")
Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), while granting relief to Aditya Birla Nuvo group, held that the investment that had yielded the exempt income shall be considered for the...
![Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Investments-yielded-exempt-Income-considered-for-purpose-of-working-out-Disallowance-ITAT-Aditya-Birla-TAXSCAN.jpg "Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]")