Disallowance u/s 14A r.w.r. 8D(2)(iii) - while computing ...

Disallowance u/s 14A, Rule 8D(2)(iii) should consider only investments generating exempt income that year.

January 2, 2021

Case Laws Income Tax AT

Disallowance u/s 14A r.w.r. 8D(2)(iii) - while computing disallowance under Rule 8D(2)(iii), only those investments are required to be taken into consideration which yielded exempt income during the year. - AT

View Source

← Previous Next →

Disallowance u/s 14A r.w.r. 8D(2)(iii) - while computing ...

Disallowance u/s 14A, Rule 8D(2)(iii) should consider only investments generating exempt income that year.

January 2, 2021

Case Laws Income Tax AT

You may also like:

Disallowance u/s 14A r.w.r. 8D - Addition of interest expenditure - The ITAT found substantial merit in the alternative contention of learned counsel for the assessee...

Addition u/s 14A r.w.r. 8D - There is no such provision in the statute that no disallowance of expenditure could be made on investments made in the earlier years....

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...

Exempt dividend income earned by assessee. Interest-free owned funds exceeded investments in tax-free securities, disallowance u/r 8D(2)(ii) not warranted. For Rule...

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...

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...

Disallowance u/s.14A r.w.r. 8D - whether exempt income during the year under consideration? - there is no opening and closing balances of mutual fund. Meaning thereby,...

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...

Expenditure on software license fees paid periodically is revenue in nature and should be allowed as deduction. No disallowance u/r 8D(2)(ii) warranted when own funds...

Disallowance u/s 14A - Assessee offered a suo-motto disallowance - By merely stating, that as the assessee was maintaining consolidated accounts, therefore, in the...

Disallowance u/s 14A read with Rule 8D - Assessing Officer did not record objective satisfaction for not accepting suo moto disallowance made by assessee. ITAT directed...

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

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...

Deduction us/ 80P(2) - income received on investment made with co-operative banks - The Tribunal interpreted section 80P(2)(d) and (e) to determine the eligibility of...

Disallowance of remuneration to Directors - Although no revenue receipts are generated during the year, however, the company is in existence and has started generating...

Quick Updates: