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

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Disallowance u/s 14A of Income Tax Act shall not be made, if Assessee not earned any exempt Income during Financial-year: ITAT quashes Revision order [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench held that disallowance under Section 14A of the Income Tax Act, 1961 should not be...

AO should not Resort to Adhoc Disallowance: ITAT Deletes Addition based on Adhoc Disallowance out of...

Books of Accounts Prepared u/s 115JB r.w.s 211(2) of Companies Act not Applicable: ITAT Grants...

No initiation of disallowances is required under Rule 8D(2)(i) if Direct Expenses not debited to P/L...

Expenses incurred in relation to exempt income not deductible under Section 14A of Income Tax Act:...

No Disallowance of Deduction u/s 14A of Income Tax Act can be made if No Exempt Income is Earned by Assessee: ITAT [Read Order]

The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) held that no disallowance under Section 14A of the Income Tax Act, 1961 can be made if the assessee had not earned any exempt income during...

ITAT deletes Additions made towards Disallowance of Proportionate Expenses relatable to Exempt Income [Read Order]

The Income Tax Appellate Tribunal (ITAT) of Chennai Bench deleted the additions made towards disallowance of proportionate expenses relatable to exempt income. The assessee, Karur Vysya Bank Ltd....

Head Wise Bifurcation not Required for Computation of Insurance Company Income: ITAT Deletes Disallowance u/s 14A of Income Tax Act Against Oriental Insurance [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the disallowance under Section 14A of the Income Tax Act 1961 against oriental insurance company holding that head wise bifurcation...

No Penalty leviable on Account of Disallowance u/s. 14A of Income Tax Act on Proper Filing of ROI: ITAT Grants Relief to ICICI Bank by Deleting Penalty [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) granted relief to the ICICI bank by deleting the penalty imposed under section 14A of the Income Tax Act,1961 due to improper filing of...

Disallowance u/s 14A of IT Act shall not exceeds limit of exempted income: ITAT [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal( ITAT) held that the disallowance under section 14A of Income Tax Act,1961 cannot exceeds the limit of exempted income. Anant Raj Limited, the...

Disallowance u/s 14A r.w.r 8D, cannot Exceed Quantum of Exempt Income Earned During Particular Assessment Year: ITAT [Read Order]

The Delhi Bench of Income tax Appellate Tribunal (ITAT) has held that disallowance under Section 14A of the Income Tax Act 1961 read with rule 8D could not exceed the quantum of exempted income...

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

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that disallowance under Section 14A of the Income Tax Act, 1961 could not exceed the exempted limit. The assessee, PTC India...

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