Expenditure disallowable by invoking section 14A read with rule 8D of the IT Act

Last updated: 17 September 2021
Quick Summary
The Income Tax Appellate Tribunal (ITAT) Delhi has ruled on a case concerning the disallowance of expenditure under Section 14A of the Income Tax Act, read with Rule 8D. The assessee argued against a disallowance of Rs. 3,07,307/-. The Tribunal noted that the dividend income earned was only Rs. 49,489/- and referred to a Delhi High Court ruling stating that Section 14A and Rule 8D cannot be interpreted to disallow the entire tax-exempt income, but only expenditure incurred in relation to it.

Court :
ITAT Delhi

Brief :
This appeal filed by the assessee pertaining to assessment year 2014-15 is directed against the order of Ld. CIT(A)-35, New Delhi dated 25.08.2017.

Citation :
ITA No.6712/Del/2017

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