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“disallowance u/s 14A”

DisallowancesSection 14ASection 14A2,938 judgments

The decision most relied on for disallowance u/s 14A is CIT v. Corrtech Energy (P.) Ltd. (223 Taxmann 130), cited in 579 judgments on BharatTax.

Leading authorities on disallowance u/s 14A

CIT v. Corrtech Energy (P.) Ltd.
223 Taxmann 130 · 2014 · High Court
579
citing judgments

Disallowance under Section 14A read with Rule 8D is not warranted if the assessee has not earned any exempt income in the relevant assessment year.

CIT v. Gem Plus Jewellery India Ltd.
330 ITR 175 · 2011 · High Court
207
citing judgments

Disallowances made under various sections, such as for PF/ESIC contributions, result in an increase in business profits, and these enhanced profits are eligible for deduction under Sections 10A and 10AA. Similarly, gains from foreign exchange fluctuations directly linked to export sales are also eligible for deduction under Section 10A.

Cargo Motors (P.) Ltd. v. DCIT
145 Taxmann.com 641 · 2022 · High Court
46
citing judgments

The disallowance under Section 14A read with Rule 8D, particularly Rule 8D(iii) for administrative expenses, should only consider investments that have actually yielded exempt income during the relevant assessment year. Section 14A empowers the Assessing Officer to determine expenditure related to income not forming part of total income.

Sobha Developers Ltd. v. DCIT
125 Taxmann.com 72 · 2021 · High Court
44
citing judgments

Disallowance under section 14A is a notional disallowance and cannot be added back while computing Book Profits under section 115JB for Minimum Alternate Tax purposes.

Tata Industries Ltd. v. ITO
181 TTJ 600 · 2016 · ITAT
29
citing judgments

Disallowance under Section 14A cannot exceed the exempt income earned by the assessee. Even if interest expenditure is considered, it cannot be solely attributed to earning exempt dividend income as investors also consider potential capital gains.

PCIT v. J.J. Glastronics (P.) Ltd.
139 Taxmann.com 375 · 2022 · High Court
28
citing judgments

Additions made under Section 14A of the Income-tax Act, read with Rule 8D, cannot be considered for computing book profit under Section 115JB of the Act.

M/s.Bajaj Allianz General Insurance Co. Ltd. v. ACIT
38 DTR 282 · 2010 · Reported
26
citing judgments

Section 14A of the Income-tax Act is not applicable to insurance businesses governed by specific provisions of Section 44 and Schedule 1. Profit on sale of investments by insurance companies is not taxable, especially after the deletion of sub-rule (b) of Rule 5 of the First Schedule.

PCIT v. Dipesh Lalchand Shah
143 Taxmann.com 419 · 2022 · High Court
18
citing judgments

Disallowance under section 14A cannot be made if the assessee has not earned any exempt income in the relevant assessment year. This applies even if the assessee has made investments in shares or has income from a partnership that is negative.

Judgments citing disallowance u/s 14A

M/S Hero Cycles Ltd., Ludhiana vs. ACIT, C-V, Ludhiana

ITA 473/CHANDI/2018[2012-13]Status: DisposedITAT Chandigarh08 Sept 2025AY 2012-13
For Respondent: Shri Ashwani Kumar, Shri Ashish Aggarwal &
Section 10(38)Section 143(1)Section 14ASection 36(1)(iii)

आयकर अपीलीय अधिकरण, चण्डीगढ़ न्यायपीठ “ए”, चण्डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING THROUGH: PHYSICAL

Deputy Commissioner of Income Tax, Circle-V(I), Kolkata vs. Emami Realty Limited, Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 1025/KOL/2023[2008-09]Status: DisposedITAT Kolkata08 Sept 2025AY 2008-09

Bench: Shri George Mathan & Shri Rakesh Mishra

Section 143(3)Section 14ASection 250Section 254Section 36(1)(iii)

disallowance of interest u/s 36(1)(iii) of the Act as well as cross objections filed by the assessee in respect of the disallowance u/s 14A of the Act. While giving judgement, the Hon’ble ITAT allowed the appeal of the Revenue on technical ground by holding that the factual ... which will in turn be essential to determine the allowability of interest u/s 36(1)(iii) of the Act and in respect of disallowance u/s 14A of the Act, the Hon’ble ITAT allowed it partly. The Department preferred an appeal before the Hon’ble High Court in this regard

M/S. Enam Holding Pvt Ltd, Mumbai vs. ACIT 4(1), Mumbai

In the result, the Assessee’s appeal is allowed

ITA 27/MUM/2025[2018-19]Status: DisposedITAT Mumbai29 Aug 2025AY 2018-19

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarassessment Year: 2018-19

For Appellant: Shri Dharan Gandhi, Ld. A.RFor Respondent: Shri Hemanshu Joshi, Ld. D.R
Section 14ASection 250

Rs.93,54,748/- 2 M/s. Enam Holding Private Limited (1,56,17,271/- - Rs.62,62,523/-) in the income of the Assessee being disallowance u/s 14A r.w.r. 8D of the Rules. 3. The Assessee, being aggrieved, challenged the said disallowance by filing first appeal before the Ld. Commissioner and mainly ... considering the peculiar facts and circumstances, we direct the JAO to consider the investments, which have actually yielded exempt income, for making the disallowance u/s 14A of the Act r.w.r 8D of the Rules only and recompute the disallowance accordingly. 7. In the result, the Assessee’s appeal is allowed

Candor Kolkata One Hi-Tech Structures Private Limited, Mumbai vs. ACIT Circle-5(2), New Delhi

ITA 193/DEL/2021[2017-18]Status: DisposedITAT Delhi29 Aug 2025AY 2017-18

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla

Section 143(3)

appeals of these three entities are adjudicated in the form of following issues. 3. Issue No.1: The first issue is of disallowance u/s 14A of the Act in appeals of entity (i) and (iii) for AY 2015-16. The ld. AR has primarily submitted that the AO has failed

Candor Gurgaon One Realty Projects Pvt. Ltd. (Formerly Known As Unitech Realty Projects Pvt. Ltd.), Mumbai vs. ACIT Spl. Range-2, New Delhi

ITA 8377/DEL/2019[2016-17]Status: DisposedITAT Delhi29 Aug 2025AY 2016-17

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla

Section 143(3)

appeals of these three entities are adjudicated in the form of following issues. 3. Issue No.1: The first issue is of disallowance u/s 14A of the Act in appeals of entity (i) and (iii) for AY 2015-16. The ld. AR has primarily submitted that the AO has failed

Candor Gurgaon Two Developers and Project Ltd. (Formerly Knwon As Unitech Developers and Projects Pvt. Ltd.), Mumbai vs. Addi. CIT Spl. Range- 2, New Delhi

ITA 6847/DEL/2019[2016-17]Status: DisposedITAT Delhi29 Aug 2025AY 2016-17

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla

Section 143(3)

appeals of these three entities are adjudicated in the form of following issues. 3. Issue No.1: The first issue is of disallowance u/s 14A of the Act in appeals of entity (i) and (iii) for AY 2015-16. The ld. AR has primarily submitted that the AO has failed

Candor Kolkata One Hi- Tech Structures Pvt. Ltd., Maharashtra vs. ACIT Special Range-2, New Delhi

ITA 6664/DEL/2019[2016-17]Status: DisposedITAT Delhi29 Aug 2025AY 2016-17

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla

Section 143(3)

appeals of these three entities are adjudicated in the form of following issues. 3. Issue No.1: The first issue is of disallowance u/s 14A of the Act in appeals of entity (i) and (iii) for AY 2015-16. The ld. AR has primarily submitted that the AO has failed

Addl. CIT, Range- 2, New Delhi vs. Candor Gurgaon One Realty Projects Pvt. Ltd., New Delhi

ITA 4598/DEL/2019[2015-16]Status: DisposedITAT Delhi29 Aug 2025AY 2015-16

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla

Section 143(3)

appeals of these three entities are adjudicated in the form of following issues. 3. Issue No.1: The first issue is of disallowance u/s 14A of the Act in appeals of entity (i) and (iii) for AY 2015-16. The ld. AR has primarily submitted that the AO has failed

Addl.CIT, Special Range-9, New Delhi vs. Candor Gurgaon Two Developers and Project Pvt Ltd, Mumbai

ITA 4597/DEL/2019[2015-16]Status: DisposedITAT Delhi29 Aug 2025AY 2015-16

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla

Section 143(3)

appeals of these three entities are adjudicated in the form of following issues. 3. Issue No.1: The first issue is of disallowance u/s 14A of the Act in appeals of entity (i) and (iii) for AY 2015-16. The ld. AR has primarily submitted that the AO has failed

Jubin Finance & Investment Ltd, Gurgaon vs. DCIT Circle-02, Gurgaon

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 3441/DEL/2019[2012-13]Status: DisposedITAT Delhi29 Aug 2025AY 2012-13

Bench: Shri M. Balaganesh & Shri Vimal Kumarm/S. Jubin Finance & Investment Ltd, Vs. Dcit, Plot No. 13, Sector-44, Gurgaon Circle-2, Gurgaon (Appellant) (Respondent) Pan: Aaacj7314D

For Appellant: Shri Salil Kapoor, AdvFor Respondent: Ms. Harpreet Kaur Hansra, Sr. DR
Section 143(3)Section 14ASection 24

This matter was ultimately heard accordingly on 04.08.2025. 3. The first issue to be decided in this appeal is with regard to the disallowance u/s 14A of the Act. 4. We have heard the rival submissions and perused the material available on record. The return of income for assessment year ... noticed that assessee had dividend income of ₹8,855 and claimed the same as exempt. The ld AO resorted to make disallowance u/s 14A of the Act by applying the computation mechanism provided in Rule 8D(2)(i) and 8D(2)(iii) of the Income Tax Rules (hereinafter referred

Candor Kolkata One Hi- Tech Structures Pvt. Ltd., Maharashtra vs. ACIT Spl. Rnage-2, New Delhi

ITA 3211/DEL/2019[2015-16]Status: DisposedITAT Delhi29 Aug 2025AY 2015-16

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla

Section 143(3)

appeals of these three entities are adjudicated in the form of following issues. 3. Issue No.1: The first issue is of disallowance u/s 14A of the Act in appeals of entity (i) and (iii) for AY 2015-16. The ld. AR has primarily submitted that the AO has failed

Candor Gurgaon Two Developers & Project Pvt Ltd (Formerly Knwon As Unitech Developers and Projects Pvt. Ltd.), Delhi vs. Addl. CIT, Special Range- 2, New Delhi

ITA 3155/DEL/2019[2015-16]Status: DisposedITAT Delhi29 Aug 2025AY 2015-16

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla

Section 143(3)

appeals of these three entities are adjudicated in the form of following issues. 3. Issue No.1: The first issue is of disallowance u/s 14A of the Act in appeals of entity (i) and (iii) for AY 2015-16. The ld. AR has primarily submitted that the AO has failed

Candor Gurgaon One Realty Projects Pvt. Ltd. (Formerly Known As Unitech Realty Projects Pvt. Ltd.), Mumbai vs. Addl. CIT, Range- 2, New Delhi

ITA 3154/DEL/2019[2015-16]Status: DisposedITAT Delhi29 Aug 2025AY 2015-16

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla

Section 143(3)

appeals of these three entities are adjudicated in the form of following issues. 3. Issue No.1: The first issue is of disallowance u/s 14A of the Act in appeals of entity (i) and (iii) for AY 2015-16. The ld. AR has primarily submitted that the AO has failed

Kalpesh Dhanjibhai Makasana, Surendranagar vs. Pr. CIT, Ahmedabad-3, Ahmedabad

In the result, the appeal filed by the Assessee is allowed

ITA 1231/AHD/2025[2020-21]Status: DisposedITAT Ahmedabad28 Aug 2025AY 2020-21

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

Section 143(2)Section 143(3)Section 14ASection 263Section 80GSection 80G(5)Section 80G(5)(vi)

assessee, which is liable to be taxed at special rate instead of normal rate. Further the Assessing Officer has failed to verify disallowance u/s 14A read with Rule 8D on the total value of investment as on 31-03-2020. Thus the order passed by the A.O. is both erroneous ... found that erroneous claim of salary income and non- I.TA No. 1231/Ahd/2025 A.Y. 2020-21 Page No 5 Kalpesh Dhanjibhai Makasana Vs. Pr.CIT disallowance u/s 14A read with Rule 8D which are not subject matter of “limited scrutiny” assessment. Ld. Counsel relied upon Jurisdictional High Court judgment in the case

The Acti, Circle-3(1)(1), Ahmedabad vs. Nirma Limited, Ahmedabad

ITA 1437/AHD/2019[2016-17]Status: DisposedITAT Ahmedabad28 Aug 2025AY 2016-17

Bench: Shri Sanjay Garg & Shri Makarand V. Mahadeokarआयकर अपील सं/Ita Nos.1412 & 1413/Ahd/2019 निर्धारण वर्ष / Assessment Years: (2015-2016 & 2016-17) Nirma Limited, Nirma House, Ashram Road, Ahmedabad-380009. (Gujarat) बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle 3(1)(1), Ahmedabad. स्थायी लेखा सं./Pan : Aaacn5350K आयकर अपील सं/Ita Nos.1436-1437/Ahd/2019 निर्धारण वर्ष / Assessment Years : (2015-16 & 2016-17) The Assistant Commissioner Of Income Tax, Circle 3(1)(1), Ahmedabad. Nirma Limited, बनाम / V/S. Nirma House, Ashram Road, Ahmedabad-380009. (Gujarat) स्थायी लेखा सं./ Pan: Aaacn5350K & C.O Nos.11-12/Ahd/2020 In आयकर अपील सं/Ita Nos.1436-1437/Ahd/2019 निर्धारण वर्ष / Assessment Years : (2015-16 & 2016-17) Nirma Limited, Nirma House, Ashram Road, Ahmedabad-380009. (Gujarat) The Deputy Commissioner Of बनाम/ V/S. Income Tax/The Assistant Commissioner Of Income Tax, Circle 3(1)(1), Ahmedabad. स्थायी लेखा सं./ Pan: Aaacn5350K अपीलार्थी/ (Appellant) प्रत्यर्थी / (Respondent)

For Appellant: Shri Bandish Soparkar, withFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 115JSection 143(3)Section 14A

made several additions and disallowances, notably: (i) treating sales-tax subsidy as revenue receipt, (ii) disallowance of excess depreciation on intangible assets, (iii) disallowance u/s 14A, (iv) disallowance of product registration expenses, (v) disallowance of delayed ESIC/PF_payment, (vi) disallowance of depreciation on goodwill arising from amalgamation ... deduction u/s 80IA in respect of power generation units. The AO also recomputed book profit at Rs.2,51,39,20,763/- by adding disallowance u/s 14A. 4. For Assessment Year 2016–17, the assessee filed its return of income on 29.11.2016 declaring total income

The Acti, Circle-3(1)(1), Ahmedabad vs. Nirma Limited, Ahmedabad

ITA 1436/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad28 Aug 2025AY 2015-16

Bench: Shri Sanjay Garg & Shri Makarand V. Mahadeokarआयकर अपील सं/Ita Nos.1412 & 1413/Ahd/2019 निर्धारण वर्ष / Assessment Years: (2015-2016 & 2016-17) Nirma Limited, Nirma House, Ashram Road, Ahmedabad-380009. (Gujarat) बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle 3(1)(1), Ahmedabad. स्थायी लेखा सं./Pan : Aaacn5350K आयकर अपील सं/Ita Nos.1436-1437/Ahd/2019 निर्धारण वर्ष / Assessment Years : (2015-16 & 2016-17) The Assistant Commissioner Of Income Tax, Circle 3(1)(1), Ahmedabad. Nirma Limited, बनाम / V/S. Nirma House, Ashram Road, Ahmedabad-380009. (Gujarat) स्थायी लेखा सं./ Pan: Aaacn5350K & C.O Nos.11-12/Ahd/2020 In आयकर अपील सं/Ita Nos.1436-1437/Ahd/2019 निर्धारण वर्ष / Assessment Years : (2015-16 & 2016-17) Nirma Limited, Nirma House, Ashram Road, Ahmedabad-380009. (Gujarat) The Deputy Commissioner Of बनाम/ V/S. Income Tax/The Assistant Commissioner Of Income Tax, Circle 3(1)(1), Ahmedabad. स्थायी लेखा सं./ Pan: Aaacn5350K अपीलार्थी/ (Appellant) प्रत्यर्थी / (Respondent)

For Appellant: Shri Bandish Soparkar, withFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 115JSection 143(3)Section 14A

made several additions and disallowances, notably: (i) treating sales-tax subsidy as revenue receipt, (ii) disallowance of excess depreciation on intangible assets, (iii) disallowance u/s 14A, (iv) disallowance of product registration expenses, (v) disallowance of delayed ESIC/PF payment, (vi) disallowance of depreciation on goodwill arising from amalgamation ... deduction u/s 80IA in respect of power generation units. The AO also recomputed book profit at Rs.2,51,39,20,763/- by adding disallowance u/s 14A. 4. For Assessment Year 2016–17, the assessee filed its return of income on 29.11.2016 declaring total income

Nirma Limited, Ahmedabad vs. The Dcti, Circle-3(1)(1), Ahmedabad

ITA 1413/AHD/2019[2016-17]Status: DisposedITAT Ahmedabad28 Aug 2025AY 2016-17

Bench: Shri Sanjay Garg & Shri Makarand V. Mahadeokarआयकर अपील सं/Ita Nos.1412 & 1413/Ahd/2019 निर्धारण वर्ष / Assessment Years: (2015-2016 & 2016-17) Nirma Limited, Nirma House, Ashram Road, Ahmedabad-380009. (Gujarat) बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle 3(1)(1), Ahmedabad. स्थायी लेखा सं./Pan : Aaacn5350K आयकर अपील सं/Ita Nos.1436-1437/Ahd/2019 निर्धारण वर्ष / Assessment Years : (2015-16 & 2016-17) The Assistant Commissioner Of Income Tax, Circle 3(1)(1), Ahmedabad. Nirma Limited, बनाम / V/S. Nirma House, Ashram Road, Ahmedabad-380009. (Gujarat) स्थायी लेखा सं./ Pan: Aaacn5350K & C.O Nos.11-12/Ahd/2020 In आयकर अपील सं/Ita Nos.1436-1437/Ahd/2019 निर्धारण वर्ष / Assessment Years : (2015-16 & 2016-17) Nirma Limited, Nirma House, Ashram Road, Ahmedabad-380009. (Gujarat) The Deputy Commissioner Of बनाम/ V/S. Income Tax/The Assistant Commissioner Of Income Tax, Circle 3(1)(1), Ahmedabad. स्थायी लेखा सं./ Pan: Aaacn5350K अपीलार्थी/ (Appellant) प्रत्यर्थी / (Respondent)

For Appellant: Shri Bandish Soparkar, withFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 115JSection 143(3)Section 14A

made several additions and disallowances, notably: (i) treating sales-tax subsidy as revenue receipt, (ii) disallowance of excess depreciation on intangible assets, (iii) disallowance u/s 14A, (iv) disallowance of product registration expenses, (v) disallowance of delayed ESIC/PF_payment, (vi) disallowance of depreciation on goodwill arising from amalgamation ... deduction u/s 80IA in respect of power generation units. The AO also recomputed book profit at Rs.2,51,39,20,763/- by adding disallowance u/s 14A. 4. For Assessment Year 2016–17, the assessee filed its return of income on 29.11.2016 declaring total income

Nirma Limited, Ahmedabad vs. The Dcti, Circle-3(1)(1), Ahmedabad

ITA 1412/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad28 Aug 2025AY 2015-16

Bench: Shri Sanjay Garg & Shri Makarand V. Mahadeokarआयकर अपील सं/Ita Nos.1412 & 1413/Ahd/2019 निर्धारण वर्ष / Assessment Years: (2015-2016 & 2016-17) Nirma Limited, Nirma House, Ashram Road, Ahmedabad-380009. (Gujarat) The Deputy Commissioner बनाम / Of Income Tax, V/S. Circle 3(1)(1), Ahmedabad. स्थायी लेखा सं./Pan : Aaacn5350K आयकर अपील सं/Ita Nos.1436-1437/Ahd/2019 निर्धारण वर्ष / Assessment Years : (2015-16 & 2016-17) The Assistant Commissioner Of Income Tax, Circle 3(1)(1), Ahmedabad. Nirma Limited, बनाम / Nirma House, V/S. Ashram Road, Ahmedabad-380009. (Gujarat) स्थायी लेखा सं./ Pan: Aaacn5350K & C.O Nos.11-12/Ahd/2020 In आयकर अपील सं/Ita Nos.1436-1437/Ahd/2019 निर्धारण वर्ष / Assessment Years : (2015-16 & 2016-17) Nirma Limited, Nirma House, Ashram Road, Ahmedabad-380009. (Gujarat) The Deputy Commissioner Of बनाम/ V/S. Income Tax/The Assistant Commissioner Of Income Tax, Circle 3(1)(1), Ahmedabad. स्थायी लेखा सं./ Pan: Aaacn5350K अपीलार्थी/ (Appellant) प्रत्यर्थी / (Respondent)

For Appellant: Shri Bandish Soparkar, withFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 115JSection 143(3)Section 14ASection 80I

made several additions and disallowances, notably: (i) treating sales-tax subsidy as revenue receipt, (ii) disallowance of excess depreciation on intangible assets, (iii) disallowance u/s 14A, (iv) disallowance of product registration expenses, (v) disallowance of delayed ESIC/PF_payment, (vi) disallowance of depreciation on goodwill arising from amalgamation ... deduction u/s 80IA in respect of power generation units. The AO also recomputed book profit at Rs.2,51,39,20,763/- by adding disallowance u/s 14A. 4. For Assessment Year 2016–17, the assessee filed its return of income on 29.11.2016 declaring total income

JCIT(OSD), Cir011(1), Kolkata vs. M/S. Philips Carbon Black Ltd., Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 234/KOL/2023[2014-15]Status: DisposedITAT Kolkata28 Aug 2025AY 2014-15

Bench: Shri Duvvuru Rl Reddy & Shri Rajesh Kumari.T.A. No.234/Kol/2023 Assessment Year: 2014-15 Jcit(Osd), Circle-11(1), Kolkata........................…...........................……….……Appellant Vs. M/S Philips Carbon Black Ltd.............…..….…..….........……........……...…..…..Respondent Duncan House, 31 Netaji Subhas Road, Kol-1. [Pan: Aabcp5762E] Appearances By: Shri Praveen Kishore, Cit-Dr, Appeared On Behalf Of The Appellant. Shri Akkal Dudhewala, Ar, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : June 30, 2025 Date Of Pronouncing The Order : August 29Th, 2025 Order Per Rajesh Kumar:

Section 144CSection 250Section 32(1)Section 32(1)(ii)Section 32(1)(iia)Section 80Section 80I

Provisions Amount(Rs) Amount(Rs) Total Income as per Modified Computation of Income Add: (i) Delay in employee's contribution 30,132 (ii) Disallowance u/s 14A 1,29,47,275 (iii) Disallowance of discount 2,16,05,442 (iv) Disallowance u/s ... Profit u/s 115JB Amount(Rs) Amount(Rs) Book Profit u/s 115JB as per modified computation of Income (2,99,80,07,511) Add : Disallowance u/s 14A 1,29,47,275 Revised Book Profit (2,98,50,60,236) Tax @ 18.5% Assessed u/s. 143(3) r.w. 92CA of the Income

Assistant Commissioner of Income Tax, Circle-2, Kota vs. Chambal Fertilizers and Chemicals Ltd., Kota

56. As a result, as regards the issue of allowance/disallowance of

ITA 1099/JPR/2024[2016-17]Status: DisposedITAT Jaipur27 Aug 2025AY 2016-17
For Appellant: Shri P.J. Pardiwala, AdvFor Respondent: Shri Rajesh Ojha, CIT &
Section 14ASection 36(1)Section 36(1)(iii)

given full particulars of the decision, relating to the assessment year 2010-11. Even otherwise, as observed by Learned CIT (A), disallowance u/s 14A of the Act worked out to be Nil as the investment had its source in cash generated from business operation