Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2017 Year 2017 This

Addition u/s 14A - Once holding of investment was considered ...


Section 14A of Income Tax Act not applicable for incidental investment holding in banking business of assessee.

April 13, 2017

Case Laws     Income Tax     AT

Addition u/s 14A - Once holding of investment was considered incidental to the business of banking to the assessee, Section 14A of the Act could not have been applied. - AT

View Source

 


 

You may also like:

  1. Disallowance u/s 14A - Exempted income - proportionate disallowance of interest paid by the banks for investments made in tax free bonds/ securities which yield tax free...

  2. 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...

  3. 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...

  4. Disallowance u/s 14A r.w.r. 8D - as argued CIT(A), instead of adopting the average value of investment of which income is not part of the total income i.e., the value of...

  5. Disallowance of deduction(s) u/s 80P - interest income from the investments made in co-operative/other bank(s) - The tribunal analyzed Sec. 80P(2)(d) and determined that...

  6. Disallowance u/s 14A - profits from shares where held as stock in trade and not as investments - The sum and substance of ratio laid down by the Hon’ble Supreme Court...

  7. Deduction claimed u/sec. 80P(2)(a)(i) - interest income from the investments made in co-operative/scheduled bank(s) - The Tribunal observed that despite the insertion of...

  8. Investment in personal capacity and separate accounts maintained, no disallowance – Section 14A

  9. The High Court held that rent income derived from letting out properties by the assessee should be treated as 'Income from Profits and Gains of Business' and not 'Income...

  10. Charitable institution invested funds in shares of joint venture companies, violating Section 13(1)(d). Exemption u/s 11 denied for income from such investment. However,...

  11. AO disallowed expenses u/s 14A r.w.r. 8D for shares held as stock-in-trade, but HC held section 14A inapplicable to assessee bank following Maxopp and South Indian Bank....

  12. Deduction u/s 80P - deduction of income earned as interest/dividend from co-operative bank is allowable. Section 80P(2)(d) reflects that if income by way of interest or...

  13. Disallowance u/s 14A is limited to Rs.2,77,80,538/- and cannot be treated as an enhancement of assessment. Neither assessee nor AO mentioned a specific figure linked to...

  14. Disallowance u/s 14A read with Rule 8D - The assessing officer's reliance on CBDT Circular No. 5 of 2014 to make disallowance u/s 14A is legally untenable and liable to...

  15. Deduction u/s. 80P(2)(a)(i) - interest income earned on its investments amount made with District co-operative banks - The Tribunal upheld the decision of the lower...

 

Quick Updates:Latest Updates