Taxcharcha
Income TaxRecent Case Laws

That the disallowance u/s 14A read with Rule 8D cannot exceed the actual exempt income received by the assessee during the year. We, therefore, set aside the order of the CIT(A) and direct the Assessing Officer – ITAT Delhi

by Team Taxcharcha01186
M/S ADMACH AUTO LIMITED, ITA NO. 9543/DEL/2019

 

 

[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/ITAT-Delhi-28.03_03-1.odt” comments=”true” SVG=”true”]

 

To Download, Mahagun India pvt. Ltd

Related posts

Where the notice issued u/s 271(1)(c) read with section 274 of the act does not specify whether the penalty is for concealment of income or for furnishing of inaccurate particulars of income, the same is bad in law and no penalty can be levied.

Team Taxcharcha

Merely because assessee company had filed all primary evidence, it could not be said that onus on assessee company to establish the credit worthiness of investor companies stood discharge. Assessing Officer was justified in passing assessment order making additions under section 68 for share capital/share premium received by assessee company – SC

Team Taxcharcha

As the assessee is regularly following the accounting practice of making provision on year to year basis on the basis of the performance of the employees and the same is definite and accured liability of the assessee for the year for which the services have been rendered by the employees and the same partakes the character of the salary and hence cannot be disallowed. – ITAT Delhi

Team Taxcharcha