#Section 14A
Log in to FollowDisallowance under Section 14A of Income TAx Act, 1961
Income Tax
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If AO was satisfied as to assessee’s computation of disallowance U/s. 14A, invocation of rule 8D could not be allowed
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Section 14A Dis allowance cannot exceed exempt income
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Investments held as stock-in-trade do not attract disallowance U/s. 14A
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Disallowance u/s 14A unsustainable in absence of exempt income
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Shares held as stock-in-trade do not attract dis allowance u/s 14A
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Consultancy charges Incurred for making investment are allowable
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For invoking section 14A r.w. rule 8D, AO had to mandatorily record his satisfaction
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Disallowance u/s 14A is to be made despite no tax-free income on investment
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No Disallowance U/s. 14A on strategic investments out of Commercial expediency
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Rule 8D of Income Tax Rules is Prospective & cannot be applied to AY prior to 2008-09
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Maxopp Investment Ltd (SC)- Section 14A – An Analysis
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Sec. 14A – End of controversy relating to strategic investments & stock-in-trade
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No disallowance U/s. 14A in absence of expenditure to earn exempt income
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