Disallowance under Section 14A of Income TAx Act, 1961
Income Tax : Understanding the retrospective and prospective application of amendment in Section 14A of the Income-tax Act....
Income Tax : Section 14A, which pertaining to Expenditure incurred in relation to income not includible in total income, was introduced with ef...
Income Tax : Clarification in respect of disallowance under section 14A in absence of any exempt income during an assessment year Section 14A o...
Income Tax : The issue before the Hon’ble Supreme Court (SC) was whether section 14A of the Income-tax Act, 1961 (the Act) enables the Depart...
Income Tax : In the landmark judgement the Hon’ble Supreme Court of India allowed the appeal of the South Indian Bank by settling the long dr...
Income Tax : Bombay Chartered Accountants' Society has made a Representation on 'Suggestions for Amendments in the Income Tax Act', on 24th May...
Income Tax : The mechanical disallowance u/s 14A r.w. Rule 8D is also being added to the book profit by the AO irrespective of the fact whethe...
Income Tax : 1. IMPLEMENTATION OF IND-AS AND THEIR IMPACT ON TAXABLE INCOME IND-AS (Indian version of IFRS) accounting standards are being impl...
Income Tax : Amendments to Section 14A to provide that (i) dividend received after suffering dividend-distribution tax and share income from fi...
Income Tax : As earlier intimated to you, Writ Petition bearing No. 50 of 2010 (Indian Exporters Grievances Forum & Other vs. CIT) challenging ...
Income Tax : ITAT Pune held that the DTAA does not get triggered at all when a domestic company pays DDT u/s. 115O of the Income Tax Act. In nu...
Income Tax : The assessee had filed return of income of Rs.92,06,590 which was selected for complete scrutiny and during the course of assessme...
Income Tax : ITAT Ahmedabad held that disallowance of interest under section 14A unjustified as assessee’s own funds are far in excess of the...
Income Tax : ITAT Hyderabad held that as per the provisions of section 115VG of the Income Tax Act, once the assessee opts for the Tonnage Tax ...
Income Tax : ITAT Delhi held that disallowance u/s. 14A of the Income Tax Act unjustified as sufficient interest free funds were available for ...
Income Tax : 2) The expenditure in relation to income which does not form part of the total income shall be the aggregate of following amounts,...
Income Tax : Circular No. 5/2014-Income Tax Central Board of Direct Taxes, in exercise of its powers under section 119 of the Act hereby clari...
Income Tax : INCOME TAX NOTIFICATION NO-45/2008, DT: March 24, 2008 Method for determining amount of expenditure in relation to income not incl...
Income Tax : The provisions of Sections 144-A and 144-B of the Income-tax Act have come into force with effect from 1st January 1976. Instructi...
ITAT Mumbai held that in case of life insurance business, the income should be computed as per provisions of section 44 of the Income Tax Act and to be taxed under section 115B.
Delhi High Court’s decision in ITA 1260/2018, addressing disallowance under Section 14A of the Income Tax Act. Learn about the quantum, computation, and implications for Caraf Builders & Constructions Pvt. Ltd.
ITAT Mumbai held that the finance costs having direct nexus with the business should be allowed as a deduction under section 36(1)(iii) of the Income Tax Act.
Explore the ITAT Ahmedabad ruling in the case of DCIT vs. Amazon Textiles Pvt. Ltd., addressing disallowance under Section 14A, Rule 8D of the Income Tax Act.
Explore the CIT vs Chettinad Logistics case from Madras High Court. Analysis of Section 14A disallowance, Rule 8D, and its impact on income tax assessments.
Explore the Delhi High Court judgment in PCIT vs. Bhilwara Energy Ltd, covering condonation of delay, key issues, and disallowance under Section 14A of the Income Tax Act.
Delhi High Court ruling in PCIT Vs Techno Trexim (India) Pvt. Ltd. Understand the implications of the judgment on Section 14A disallowance without exempt income.
ITAT Mumbai held that Arm’s Length Price (ALP) of guarantee commission was determined at the rate of 0.3523% instead of 1.25%.
Gujarat High Court held that initiation of penalty proceedings u/s 271(1)(c) of the Income Tax Act in the absence of any material to establish the concealing of income or furnishing inaccurate particulars unsustainable-in-law.
ITAT Delhi held that disallowance of expenditure owing to suspension of business unsustainable as there is nothing on record to show that assessee has completely abandoned or closed the business forever by disposing of its assets and going into liquidation.
