Is disallowance u/s section 14A of the IT Act allowed when own capital is higher than investment in shares?

Last updated: 12 June 2021
Quick Summary
This Income Tax Appellate Tribunal case examines whether expenses can be disallowed under Section 14A of the IT Act when an assessee's own capital is higher than their investment in shares. The Tribunal is reviewing appeals concerning the disallowance of expenses related to investments for the assessment years 2009-10 and 2010-11. The core issue is the extent to which such disallowances are permissible, particularly concerning administrative expenses.

Court :
ITAT Ahmedabad

Brief :
The above four appeals are cross-appeals by the Revenue and the assessee directed against orders of the ld.CIT(A)-7, Ahmedabad of even dated i.e. 12.02.2018 for the above two assessment years. All these four appeals are disposed of by this common order for the sake of convenience.

Citation :
ITA 1436/AHD/2018

Daily Limit Reached

You have reached your daily limit of 2 Free Judgements

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?
  • No Ads
  • WhatsApp Broadcasts
  • Daily E-Newsletter
  • Unlimited Judgements Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits

Already a PRO member? Login here for an ad-free experience.

 
Comments


Recent Judgments :

  1. Typographical Error in the SCN Cannot Be a Shield for the Assessee Who Participated in the Proceedings Without Raising Any Objection
  2. Penalty on partners under Section 122(1A) of the CGST Act upheld where complicity in fake invoicing and hawala-linked ITC fraud stands established
  3. Forest Development Tax Demand, Collection and Refund Subject to Final Outcome of Pending Cases
  4. SC : Extended Limitation Cannot Be Invoked Where Department Was Aware of Valuation Facts
  5. SC : Selling Shares While in Possession of UPSI Constitutes Insider Trading Even if No Profit Is Made
  6. SC : Laser Imagers Compatible with Machines Under Different Tariff Headings Classifiable Under CTH 9033
  7. Education Consultancy Services to Foreign Universities Not Intermediary Services; Refund of IGST on Export of Services Allowed
  8. Penalty Cannot Be Confirmed Beyond What is Specified in Statutory Form GST DRC-01
  9. Non-Supply of Field Visit Report Vitiates Rejection of Revocation Application
  10. Alternative Remedy before GSTAT to be Exhausted Despite Allegation that Adjudication Travelled Beyond SCN

View More Judgments »


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member DHRUV PATELDHRUV PATELPro Member CA. MOHIT SHARMACA. MOHIT SHARMAPro Member Sagar KhakhiwalaSagar KhakhiwalaPro Member s prasads prasadPro Member mohammad.asrafmohammad.asraf
Subscribe to Pro
Join an elite circle of professionals

Browse by Category