This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Disallowance Under Section 14A Cannot Exceed Exempt Income: ITAT Delhi
Case Law Details
- Case Name
- Jubilant Securities Pvt Ltd Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Jubilant Securities Pvt Ltd Vs DCIT (ITAT Delhi)
Disallowance Under Section 14A Cannot Exceed Exempt Income: ITAT Delhi
In the significant case of Jubilant Securities Pvt Ltd Vs DCIT, the Income Tax Appellate Tribunal (ITAT) Delhi held that disallowance under Section 14A, in relation with Rule 8D, cannot exceed the exempt income earned during a specific assessment year. The decision pivoted on the assessment of disallowed expenses and the penalty levied under Section 270A of the Income Tax Act, 1961.
The judgment brought attention to the principles laid down by numerous judici...
