![Relief to Cricket Club of India: ITAT upholds Restriction of 2% Disallowance by AO on Exempt Income u/s 14A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Cricket-Club-of-India-Disallowance-Assessing-Officer-Dividend-income-Income-Tax-Income-Tax-Act-Tax-Income-Taxscan.jpg "Relief to Cricket Club of India: ITAT upholds Restriction of 2% Disallowance by AO on Exempt Income u/s 14A of Income Tax Act [Read Order]")
Relief to Cricket Club of India: ITAT upholds Restriction of 2% Disallowance by AO on Exempt Income u/s 14A of Income Tax Act [Read Order]
While entertaining the appeal filed by the Cricket Club of India (CCI), the Mumbai Bench of Income Tax of Appellate Tribunal (ITAT) upheld the view...
![Interest Expenditure cannot be considered for making Disallowance u/s 14A of the Act: ITAT confirms Relief of Adani Wilmar Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Interest-Expenditure-Disallowance-ITAT-Relief-of-Adani-Wilmer-Ltd-Adani-Wilmer-Ltd-Income-Tax-Act-Income-Tax-taxscan.jpg "Interest Expenditure cannot be considered for making Disallowance u/s 14A of the Act: ITAT confirms Relief of Adani Wilmar Ltd [Read Order]")
![Income Tax Dept cannot take a Different View in subsequent years in Absence of any Fresh Materials warranting such departure: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Income-Tax-Department-income-Fresh-Materials-warranting-Fresh-Materials-taxscan.jpg "Income Tax Dept cannot take a Different View in subsequent years in Absence of any Fresh Materials warranting such departure: Calcutta HC [Read Order]")
![Dividend Income Earned on Shares are Exempted u/s 10(34), No Tax Liability: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Dividend-Income-Dividend-Income-Dividend-Income-Earned-on-Shares-Tax-Liability-Tax-ITAT-Income-Tax-taxscan-.jpg "Dividend Income Earned on Shares are Exempted u/s 10(34), No Tax Liability: ITAT [Read Order]")
![No Application of S.14A Income Tax Act, If No Exempt Income received or receivable during relevant previous year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-Act-Income-Tax-Tax-Income-received-ITAT-Exempt-Income-taxscan.jpg "No Application of S.14A Income Tax Act, If No Exempt Income received or receivable during relevant previous year: ITAT [Read Order]")
Relief to United Breweries, Disallowance u/s 14A restricted to Exempt Income earned by Assessee: ITAT [Read Order]
As a relief to United Breweries, the Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has held that disallowance under section 14A of the Income Tax Act,1961 is restricted to exempt...
![Relief to United Breweries, Disallowance u/s 14A restricted to Exempt Income earned by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/United-Breweries-Exempt-Income-ITAT-Taxscan.jpg "Relief to United Breweries, Disallowance u/s 14A restricted to Exempt Income earned by Assessee: ITAT [Read Order]")
No Reduction of Disallowance u/s 14A of Income Tax Act on Ad-hoc basis: Delhi HC against ITAT’s decision [Read Order]
The Delhi High Court (HC), in its recent judgment chaired by Justice Vibhu Bakhru and Justice Purushaindra Kumar Kaurav viewed against the decision of the Income Tax Appellate Tribunal (ITAT) that...
![No Reduction of Disallowance u/s 14A of Income Tax Act on Ad-hoc basis: Delhi HC against ITAT’s decision [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Reduction-of-Disallowance-Income-Tax-Act-Disallowance-Delhi-Highcourt-taxscan.jpg "No Reduction of Disallowance u/s 14A of Income Tax Act on Ad-hoc basis: Delhi HC against ITAT’s decision [Read Order]")
Unclear basis of Suo-Motu Disallowance of Exempt Income by H T Media Limited: Delhi HC rejects Estimated Disallowance [Read Order]
A Division Bench of the Delhi High Court recently held that, the disallowance estimated by the assessee, H T Media Limited, the publisher of Hindustan Times newspaper and Mint for calculation of...
![Unclear basis of Suo-Motu Disallowance of Exempt Income by H T Media Limited: Delhi HC rejects Estimated Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Suo-Motu-Disallowance-of-Exempt-Income-by-H-T-Media-Limited-Delhi-HC-rejects-Estimated-Disallowance-TAXSCAN.jpg "Unclear basis of Suo-Motu Disallowance of Exempt Income by H T Media Limited: Delhi HC rejects Estimated Disallowance [Read Order]")
AO failed to record the satisfaction envisaged u/s 14A(2): ITAT deletes proceedings against Serum Institute of India [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) deleted proceedings against Serum Institute of India by upholding the order of CIT(A) which deletes the disallowance as the AO failed to...
![AO failed to record the satisfaction envisaged u/s 14A(2): ITAT deletes proceedings against Serum Institute of India [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/AO-ITAT-Serum-Institute-of-India-taxscan.jpg "AO failed to record the satisfaction envisaged u/s 14A(2): ITAT deletes proceedings against Serum Institute of India [Read Order]")
Enhancing Book Profit for amount disallowed u/s14A not a mistake apparent on record, cannot be rectified by Rectification Order: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that Enhancing book profit for amount disallowed under Section 14A of the Income Tax, 1961 is not a mistake apparent on record, cannot...
![Enhancing Book Profit for amount disallowed u/s14A not a mistake apparent on record, cannot be rectified by Rectification Order: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/rectification-order-ITAT-TAXSCAN.jpg "Enhancing Book Profit for amount disallowed u/s14A not a mistake apparent on record, cannot be rectified by Rectification Order: ITAT [Read Order]")
Relief to Delhi International Airport: Delhi High Court allows Interest Expenses of 10 Cr [Read Order]
The Delhi High Court allowed interest expenses of Rupees Ten Crores there by granting relief to the Delhi International Airport. The Income Tax Appeal has been filed by the Principal Commissioner...
![Relief to Delhi International Airport: Delhi High Court allows Interest Expenses of 10 Cr [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Delhi-International-Airport-Delhi-High-Court-Interest-Expenses-taxscan.jpg "Relief to Delhi International Airport: Delhi High Court allows Interest Expenses of 10 Cr [Read Order]")
Subsidy allowed can be treated as Capital Receipt: Delhi HC confirms Permission granted by ITAT [Read Order]
The Delhi High Court confirms the permission granted by ITAT treating the subsidy allowed as a capital receipt as per the New Industrial Policy and Other Concession Scheme from the state of Jammu...
![Subsidy allowed can be treated as Capital Receipt: Delhi HC confirms Permission granted by ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Subsidy-Capital-Receipt-Delhi-HC-ITAT-taxscan.jpeg "Subsidy allowed can be treated as Capital Receipt: Delhi HC confirms Permission granted by ITAT [Read Order]")