Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (9) TMI 357 - ITAT HYDERABADDisallowance u/s 14A - expenditure incurred for earning exempt income - HELD THAT:- Since the assessee had earned dividend income the CIT(A) has restricted the disallowance to that extent. Therefore, we do not find any infirmity in the decision of the CIT(A) and accordingly, upholding the same, we dismiss the ground raised by the revenue in all the appeals under consideration. Deduction u/s 80IA on Gross total income instead of on business income - whether the assessee can claim deduction u/s 80IA from the gross total income of the assessee? - HELD THAT:- As relying on case M/S. RELIANCE ENERGY LTD. (FORMERLY BSES LTD.) THROUGH ITS M.D. [2021 (4) TMI 1237 - SUPREME COURT] we deem it fit and proper to remit the issue back to the file of the AO with a direction to recalculate the deduction as per the provisions of section 80IA. Accordingly, ground No. 3 raised by the revenue on this issue in all the appeals under consideration is allowed for statistical purposes.
|