Section 14A of the Act would operate to disallow deduction of ...

Income Tax

May 9, 2017

Section 14A of the Act would operate to disallow deduction of all expenditure incurred in earning the dividend income u/s 115-O which is not includible in the total income of the assessee - SC

View Source

← Previous Next →

Section 14A of the Act would operate to disallow deduction of ...

Income Tax

May 9, 2017

You may also like:

Depreciation u/s 32 and Deduction u/s 80D can not be disallowed partially under section 14A since these are not expenditure incurred by assessee.

Tribunal took the consistent view of disallowing 1% of the dividend income as expenses incurred for earning such dividend.

Once it is found that no expenditure was incurred in earning this income, there would be no further expenditure in relation thereto that falls within the ambit of section 14A - HC

Addition u/s 14A read with rule 8D - categorical finding and satisfaction of the A.O. that expenditure has been incurred to earn the exempt income - Disallowance upheld

Estimation of expenditure incurred in earning the exempt income -as the assesee’s explanation is not satisfactory, therefore, provisions contained in 14A are applicable...

Prior period expenditure cannot be disallowed simply by observing that it is not ascertainable whether this expenditure was incurred for earning a particular receipts...

Application of section 14A r.w rule 8D – When there is a mixed account and the assessee is carrying on the business, it is practically impossible to specify which...

Deduction of expenditure incurred in earning income u/s 56 - assessee is a Thrift and Credit Society - the source is inextricable to the nature of the expenditure -...

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...

Addition u/s 14A - one needs to read the words "expenditure incurred" in Section 14A in the context of the scheme of the Act and, if so read, it is clear that it...

Quick Updates: