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

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No Retrospective Application to Explanation to Disallowance u/s 14A: Delhi HC [Read Order]

The division bench of the Delhi High Court has held that no retrospective application to explanation to disallowance u/s 14A. During assessment...

Section 14A Disallowance can't exceed Exempt Income earned during the AY: ITAT [Read Order]

Section 14A Disallowance cannot exceed the Exempted Income earned by Assesee: Madras High Court...

Mere Existence of Mixed Fund do not Automatically attract Disallowance u/s 14A: Gujarat High Court...

Shilpa Shetty Kundra gets Tax Relief from ITAT [Read Order]

Disallowance u/s 14A r/w Rule 8D can’t be made while computing Book profit: ITAT [Read Order]

Kolkata bench of Income Tax Appellate Tribunal in ACIT vs M/s Adhunik Metaliks Ltd dismissed the appeal of Revenue and ruled that disallowance u/s 14A of the Act read with Rule 8D can’t be made while...

ITAT Quashes Addition against Nainital Bank since Investment is made from the Interest Free Funds [Read Order]

The Delhi ITAT has quashed the addition against Nainital Bank Ltd by ruling that the investment is made from the interest-free funds available with the assessee and no question of any addition under...

Delhi HC confirms ITAT Order favoring Airport Authority of India [Read Judgment]

High Court of Delhi recently confirmed the order passed by Income Tax Appellate Tribunal in favor of the assessee the Airport Authority of India. In the present case, the Airport Authority of India...

Sec 14A cannot be invoked when Investment in the Subsidiaries was shown as Non-Current Assets in the Balance Sheet: ITAT [Read Order]

Mumbai bench of Income Tax Appellate Tribunal has held that Section 14A of the Income Tax Act 1961 cannot be invoked when investment in the subsidiaries was shown in the balance sheet under the head...

Section 14A cannot be invoked when there is no Exempt Income: ITAT [Read Order]

While dismissing the appeal of the assessee, the Income Tax Appellate Tribunal recently declared that Section 14A cannot be invoked when there is no Exempt Income. This appeal is preferred by the...

Disallowance under section 14A of the Act cannot exceed the exempt income earned by the assesse: ITAT follows Delhi HC decision

The Income Tax Appellate Tribunal Delhi bench, comprising of judicial member SH.Amit Sukla and accountant member SH.O.P.Kant held that disallowance under section 14A of the act cannot exceed the...

No Disallowance u/s 14A can be made in case of Dividend Income Accrued from Shares kept as Stock in Trade: ITAT Kolkata

In DCIT v. M/s. Kredent Brokerage Services Pvt Ltd, the division bench of the Kolkata ITAT held that disallowance under section 14A of the Income Tax Act cannot be made in case of dividend income...

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