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

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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

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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