#rule 8D
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284 articlesIncome Tax
Income Tax
No disallowance U/s. 14A unless Assessee earns exempt Income during relevant previous year
Income Tax
Income Tax
Rule-8D is not attracted if assessee has voluntarily computed disallowance
Income Tax
Income Tax
Sec. 14A No attribution of expense for exempted income earned without employee interference
Income Tax
Income Tax
S. 14A cannot be invoked if no regular activity in respect of Investment
Income Tax
Income Tax
Disallowance u/s 14A gets attracted even if a mix of interest bearing & non-bearing funds used to make investments earning exempt income
Income Tax
Income Tax
Section 14A: Consolidating latest Judicial Developments
Income Tax
Income Tax
S. 14A AO must establish nexus between expenditure & exempt income, give reason for disallowance & it should not exceed the exempt income
Income Tax
Income Tax
Share application money not to be included in average investment in disallowance u/s 14A r.w. Rule 8D
Income Tax
Income Tax
Section 14A applies only where there is actual receipt of income
Income Tax
Income Tax
Rule 8D disallowance not applicable where assessee has no investments– ITAT
Income Tax
Income Tax
Discount on issue of ESOP is allowable expenditure u/s 37: ITAT
Income Tax
Income Tax
Penalty U/s. 271(1)(c) cannot be imposed for mere non-application of Rule 8D by assessee
Income Tax
Income Tax
AO has to record his satisfaction before proceeding to make addition u/s 14A
Income Tax
Income Tax
