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Income Tax - Highlights / Catch Notes

Home Highlights August 2015 Year 2015 This

Disallowance as per section 14A r.w.Rule 8D(2)(iii) - the ...

Income Tax

August 7, 2015

Disallowance as per section 14A r.w.Rule 8D(2)(iii) - the expenses on account of auditor fee, legal and professional fees, profession tax, business support fees cannot be said to have any direct or proximate nexus with the activity of investment or earning the exempt income. - AT

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  1. 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

  2. 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...

  3. Discontinued business u/s 176 - addition on account of receipt of arrears of professional fees - Discontinuation from legal profession - Not taxable - AT

  4. 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...

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  6. Disallowance u/s 14A - The expenses inter alia included items such audit fees, ROC expenses etc. which were required to be incurred to maintain corporate identity of the...

  7. Disallowance of 20% of Legal & Professional Fees paid - authorities have not identified, if the payments made to related party is unreasonable - Legal & Professional...

  8. 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...

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  10. Disallowance u/s 14A - Since no dispute has been raised with regard to the computation of disallowance as per rule 8D - Order of the AO confirmed - AT

 

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