#Section 14A
Log in to FollowDisallowance under Section 14A of Income TAx Act, 1961
Income Tax
Income Tax
Rule 8D applicable from AY 2008-2009, however direct / indirect expenses to earn exempt Income has to be disallowed U/s. 14A
Income Tax
Income Tax
Rule 8D r.w. section 14A can not be applied for years prior to A.Y. 2008-09 so invoking of provision of section 263 of the IT Act not justified
Income Tax
Income Tax
If borrowed amount not used to earn exempt Income, no disallowance can be made U/s. 14A
Income Tax
Income Tax
Understanding Section 14A Impact with Case Laws
Income Tax
Income Tax
No Section 14A disallowance without showing how Assessee was Wrong
Income Tax
Income Tax
Payment made by the assessee to the society as society maintenance expenses are not covered under section 194C
Income Tax
Income Tax
Expenses reimbursed to recreation clubs and staff clubs of employees are revenue in nature
Income Tax
Income Tax
When the assessee did not claim the additional depreciation in the return of income, it cannot be denied merely on such basis
Income Tax
Income Tax
AO cannot apply Rule 8D without recording any satisfaction as to how assessee’s calculation of s. 14A disallowance was incorrect
Income Tax
Income Tax
Disallowance u/s. 14A cannot exceed exempt income, No S. 14A Disallowance in the absence of nexus between exempt Income and Interest Cost
Income Tax
Income Tax
Interest cannot be disallowed if assessee had ample funds at the time of investing in subsidiary companies
Income Tax
Income Tax
Disallowance for diverting interest bearing funds into tax-free income
Income Tax
Income Tax
Disallowance u/s 14A of interest on borrowed funds was not permissible if investment in shares was made out of own funds
Income Tax
Income Tax
