Computation of disallowance u/s 14A can only be considered for those investments that have yielded any exempt income

Last updated: 09 October 2021

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The Income Tax Appellate Tribunal has ruled that disallowance under Section 14A of the Income Tax Act can only be considered for investments that have actually generated exempt income. This decision clarifies that expenses related to investments not yielding any taxable income cannot be disallowed. The tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s findings.

Court :
ITAT Delhi

Brief :
These two appeals are filed by the Revenue against order dated31.05.2016 passed by CIT(A)-23, New Delhi for Assessment Year 2012-13 and 2013-14.

Citation :
I.T.A. No. 262/AGRA/2016 (A.Y 2012-13)

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1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

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3 Years PLAN

4999

(Excl. of GST ₹899)

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Judgement posted by

Poojitha Raam Vinay

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I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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