Home Highlights August 2014 Year 2014 This

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1. Disallowance u/s 14A r.w.r. 8D - the disallowances made u/s 14A of the Act r.w.r. 8D cannot be the subject matter of disallowances while determining the book profit u/s...

2. Disallowance made u/s.14A of the Act while computing book profit u/s.115JB - actual expenses debited to profit and loss account which are incurred for the purpose of...

3. Addition to the book profit u/s 115JB for the amount disallowed u/s 14A r.w. Rule 8D - the tribunal noted that the AO had made the disallowance under Section 14A, but...

4. MAT computation - Addition made to the book profit computed u/s 115JB on disallowance computed u/s 14A in respect of exempt income - the disallowance made u/s 14A is a...

5. Disallowance u/s 14A - Disallowance made on account of interest expenditure - AO has not made any disallowance on account of interest expenditure u/s 14A of the I.T. Act...

6. Addition u/s 14A r.w.r. 8D - Addition under special provision u/s 115JB - Minimum Alternate Tax (MAT) - the case revolved around the disallowance made under Section 14A...

7. Disallowance u/s 14A - Mandation of recording satisfaction - suo motu disallowance made by assessee - where suo motu disallowance has been made, the Assessing Officer is...

8. MAT - adjustment - adjustment of disallowance u/s 14A was not required to be made in Book Profits for the purpose of Section 115JB

9. Disallowance u/s 40(a)(ia) - Rejection of books of accounts - Once x net profit is estimated by applying net profit rate after rejecting the book results, no...

10. Disallowance u/s 14A – once the AO has failed to comply the statutory requirement, then he cannot proceed to make the disallowance u/s 14A(1) and the disallowance made...

11. Disallowance u/s 14A - The expenditure incurred exclusively for business activity cannot be included in such attributable expenses for the purpose of disallowance u/s.14A - AT

12. Disallowance u/s 14A r.w.r. 8D - since AO has mechanically applied the provisions of Rule 8D while making the aforesaid disallowance without establishing any nexus of...

13. Disallowance u/s 14A - Disallowing interest expense - Neither the assessee furnished the working of disallowances under section 14A, nor the lower authority made the...

14. Disallowance u/s 14A - voluntarily disallowance made was more than dividend income received - further disallowance made by the AO and confirmed by CIT(A)is not warranted...

15. MAT computation - exclusion of income of SEZ unit while computing Book Profit u/s 115JB - book profit computed under section 115JB will not include income of SEZ Unit - AT