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1. 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...

2. Disallowance u/s 14A read with Rule 8D - In any case, as per section 14A(3) whether or not the assessee has incurred any expenditure for earning exempt income, a part of...

3. Disallowance under section 14A required finding of incurring of expenditure and where it was found that for earning exempted income no expenditure had been incurred,...

4. 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

5. In the present case, the Assessing Officer (AO) disallowed the expenditure claimed u/s 57(iii) of the Income Tax Act on an ad-hoc basis. The AO did not challenge the...

6. Addition u/s 69C - CIT(A) deleted the addition - in order to invoke the provisions of sec. 69C, should give a categorical finding that the assessee has incurred any...

7. 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...

8. Disallowance u/s 14A - Mandation of recording satisfaction - suo motu disallowance made by assessee - where suo motu disallowance has been made, the Assessing Officer is...

9. Interest expenses claim against the interest income received - It is the nature of the business and all the expenditure incurred in earning the income is allowable...

10. Disallowance of expenses made u/s.37(1) - disallowance of expenditure on adhoc basis made by the ld. AO by giving a categorical finding that the ld. AO had not even...

11. Necessity of establishing nexus between expenditure incurred and earning of exempt income u/s 14A read with Rule 8D. Mechanical application of Rule 8D without recording...

12. Addition u/s 14A - Expenses incurred for earning dividend income - assessee itself suo moto made the disallowance - recording proper satisfaction - The onus was on AO to...

13. 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...

14. 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...

15. Income from other sources - Deduction of interest expenditure - direction of the CIT – A in restricting the deduction to the extent of income earned of term deposit -...