Home Highlights June 2014 Year 2014 This

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1. Addition u/s 14A r.w. Rule 8D(2)(iii) - In the present case, wherein the assessee does not offer any disallowance under Rule 8D(2)(ii) in respect of exempt income, then...

2. 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...

3. Disallowance u/s 14A r.w.r. 8D(2)(iii) - it is settled legal position that before proceeding to invoke provisions of Rule 8D of the Rules for computing disallowance u/s...

4. Disallowance u/s 14A r.w rule 8D(2)(iii) - since there is no tax free income, there could not be any disallowance u/s 14A - AO directed to re-compute the income of the...

5. 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...

6. 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...

7. Disallowance u/s 14A r.w.s 8D - AO did not in any manner reject explanation of the assessee but merely proceeded to make disallowance bu/s 14A - satisfaction of the AO...

8. 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...

9. Disallowance u/s 14A read with Rule 8D - the AO has not computed any disallowance under Rule 8D(2)(i) and Rule 8D(2)(ii) of the Rules and only under Rule 8D(2)(iii) of...

10. Disallowance u/s 14A r.w.r. 8D - no proper recording of satisfaction by the AO for rejecting the suomoto disallowance made by the Assessee - The Tribunal found that in...

11. Disallowance u/s. 14A - recording of satisfaction - AO before invoking Rule 8D has issued SCN to the assessee. The AO after considering the reply of assessee negated the...

12. Disallowance u/s 14A - when assessee has huge interest-free funds available which can take care of investment made by the assessee - assessee had shown interest expenses...

13. Disallowance u/s 14A - expenses towards exempted income - AO could not have straightaway resorted to Rule 8D(2)(iii) of the Rules in order to compute the disallowance u/s 14A - AT

14. 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...

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...