Home Highlights June 2019 Year 2019 This

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1. Disallowance u/s 14A - Exempted income - proportionate disallowance of interest paid by the banks for investments made in tax free bonds/ securities which yield tax free...

2. Disallowance u/s 14A - no dividend income has been received during the year under assessment nor it has borrowed any funds to invest in the share to earn the dividend...

3. Disallowance of education cess on income tax and dividend distribution tax u/s 40(a)(ii) - Assessee has fairly conceded that as per amendment vide Finance Act, 2022...

4. 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...

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. 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...

7. Allowable deduction of interest paid on the borrowings - Section 14A and Section 36(1)(iii) - Exempted dividend income - Based on the discussions and findings, the court...

8. Disallowance of exemption claimed u/s 10(34) on Dividend income - the conditions laid down u/s 115-O to avail the exemption u/s 10(34), is to be complied with at the...

9. Disallowance under Section 14A - whether disallowance can be made in a year in which no exempt income has been earned or received by the Assessee? - Section 14A will not...

10. Disallowance u/s 14A - The benefit derived by the assessee by virtue of the investment is not dividend income but is subsidized rate of power. This subsidy is not exempt...

11. Disallowance u/s 14A - CIT-A restricted the addition - when no exempt income is earned or disallowance u/s 14A upto the the exempt income only - Since the assessee could...

12. Disallowance u/s. 14A r.w. Rule 8D - Mandation of recording satisfaction- We find that the AO had after exhaustively dealing with the contention advanced by the assessee...

13. 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...

14. Addition u/s 14A r.w.r. 8D - Whether all shares held in ‘stock-in-trade’ should be considered for disallowance under section 14A or only those shares which yielded the...

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