Disallowance u/s 14A - The expenditure incurred exclusively for ...

Section 14A: Only Expenses Tied to Exempt Income Disallowed, Business Expenses Remain Untouched Under Income Tax Act.

January 20, 2015

Case Laws Income Tax AT

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

View Source

← Previous Next →

Disallowance u/s 14A - The expenditure incurred exclusively for ...

Section 14A: Only Expenses Tied to Exempt Income Disallowed, Business Expenses Remain Untouched Under Income Tax Act.

January 20, 2015

Case Laws Income Tax AT

You may also like:

This case deals with the disallowance of expenditure u/s 14A of the Income Tax Act, which pertains to expenditure incurred in relation to exempt income. The key points...

Disallowance u/s 14A r.w.r. 8D - The object of Section 14A is to curb the practice to claim deduction of expenses incurred in relation to exempt income against taxable...

The Kerala High Court disallowed interest expense claimed by the appellant u/s 36 of the Income Tax Act as it was incurred on a loan used to purchase agricultural land...

The assessee, engaged in the business of shares and securities, claimed administration expenses, including Portfolio Management Service (PMS) expenses, against capital...

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...

Various issues related to allowability of expenses, deductions, transfer pricing adjustments, and other income tax matters for a pharmaceutical company. Key points are:...

Deduction claimed u/s 36(1)(viii) for interest income from housing finance for non-residential purposes was disallowed, excluding such amounts from computing eligible...

Disallowance u/s 14A - Whether there is no tax free income earned during the year ? - To attract the provisions of Section 14A of the Act, 1961, it is necessary that the...

The assessee claimed deduction of brokerage expenses u/s 57(iii) against income from other sources. The Assessing Officer disallowed part of the expenses in proportion...

Addition u/s 14A r/w rule 8D - There being no income for shares hence obviously there are no administrative and other expenses incurred. In such facts of the case, no...

Assessee held shares as stock-in-trade for trading purposes, not to earn dividend income. HC held provisions of Section 14A disallowing expenses relatable to exempt...

Disallowance u/s 14A - expenditure incurred on earning exempt income - In the given case the transaction of the consolidation of mutual funds is not considered as a...

Reopening of assessment u/s 147 - Addition u/s 14A read with Rule 8D. "Reason to believe" in Section 147 means cause or justification for the competent authority to...

Deduction u/s. 80IA(4)(i) on storage tank MDI and storage tank EDA - By affirming the eligibility for deductions u/s 80IA(4) for the specialized storage tanks, the...

Assessee's claims for foreign travel expenses, physical fitness expenses, personal expenses, security charges, and swimming pool charges were partially disallowed due to...

Quick Updates: