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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

Hdfc Bank Limited (As Successor to Housing Development Finance Corporation Ltd), Mumbai vs. Addl CIT RG 1(1), Mumbai

ITA 5033/MUM/2010[2006-07]Status: DisposedITAT Mumbai28 Jan 2025AY 2006-07

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and Shri Ninad Patade, CAFor Respondent: Shri Biswanath Das, CIT DR
Section 1

Certificates (PTC) of Securitization Trusts where the underlying debts would otherwise qualify as long-term finance for development of housing in India. II. Disallowance u/s. 14A of the Act. III. Increasing the book profits computed u/s. 115JB by the amount disallowed u/s. 14A of the Act. IV. Discount on grant ... above, including raised by way of additional grounds. 26 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 II. Disallowance u/s. 14A of the Act. 8. The said issue is arising both in the assessee and the Revenue’s appeals, where, the details of the assessment

Hdfc Bank Limited (As Successor to Housing Development Finance Corporation Ltd), Mumbai vs. DCIT RG 1(1), Mumbai

ITA 4314/MUM/2010[2003-04]Status: DisposedITAT Mumbai28 Jan 2025AY 2003-04

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

expenditure in relation to income not forming part of the total income. The sub-section provides the procedure for making the disallowance u/s 14A c) The Hon'ble ITAT Special Bench, Mumbai in the case of Daga Capital Management Pvt. Ltd. & Others in 119 TTJ 289/117 ITD 269 has held ... record. h) Further, it is pertinent to mention here that the Id CIT(A) in his order for the A.Y.2006-07 has upheld the disallowance u/s 14A r.w.s.8D in toto. Earlier for the A.Y.2005-06, the Id.CIT(A) had upheld the disallowance under Rule 8D in principle. However as regards disallowance

Hdfc Bank Limited (As Successor to Housing Development Finance Corporation Ltd), Mumbai vs. DCIT RG 1(1), Mumbai

ITA 4313/MUM/2010[2002-03]Status: DisposedITAT Mumbai28 Jan 2025AY 2002-03

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and Shri Ninad Patade, CAFor Respondent: Shri Biswanath Das, CIT DR
Section 1

Certificates (PTC) of Securitization Trusts where the underlying debts would otherwise qualify as long-term finance for development of housing in India. II. Disallowance u/s. 14A of the Act. III. Increasing the book profits computed u/s. 115JB by the amount disallowed u/s. 14A of the Act. IV. Discount on grant ... above, including raised by way of additional grounds. 26 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 II. Disallowance u/s. 14A of the Act. 8. The said issue is arising both in the assessee and the Revenue’s appeals, where, the details of the assessment

Addl CIT RG 1(1), Mumbai vs. Hdfc Ltd, Mumbai

ITA 3785/MUM/2009[2004-05]Status: DisposedITAT Mumbai28 Jan 2025AY 2004-05

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and Shri Ninad Patade, CAFor Respondent: Shri Biswanath Das, CIT DR
Section 1

Certificates (PTC) of Securitization Trusts where the underlying debts would otherwise qualify as long-term finance for development of housing in India. II. Disallowance u/s. 14A of the Act. III. Increasing the book profits computed u/s. 115JB by the amount disallowed u/s. 14A of the Act. IV. Discount on grant ... above, including raised by way of additional grounds. 26 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 II. Disallowance u/s. 14A of the Act. 8. The said issue is arising both in the assessee and the Revenue’s appeals, where, the details of the assessment

Hdfc Bank Limited (As Successor to Housing Development Finance Corporation Ltd), Mumbai vs. The Addl CIT RG 1(1), Mumbai

ITA 4315/MUM/2007[2002-2003]Status: DisposedITAT Mumbai28 Jan 2025AY 2002-2003

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and

expenditure in relation to income not forming part of the total income. The sub-section provides the procedure for making the disallowance u/s 14A c) The Hon'ble ITAT Special Bench, Mumbai in the case of Daga Capital Management Pvt. Ltd. & Others in 119 TTJ 289/117 ITD 269 has held ... record. h) Further, it is pertinent to mention here that the Id CIT(A) in his order for the A.Y.2006-07 has upheld the disallowance u/s 14A r.w.s.8D in toto. Earlier for the A.Y.2005-06, the Id.CIT(A) had upheld the disallowance under Rule 8D in principle. However as regards disallowance

DCIT Cir 1(1), Mumbai vs. M/S Housing Developement Finance Corporation Ltd, Mumbai

In the result, appeals of both, assessee and revenue are decided

ITA 4161/MUM/2007[2002-2003]Status: DisposedITAT Mumbai28 Jan 2025AY 2002-2003

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and
Section 1

expenditure in relation to income not forming part of the total income. The sub-section provides the procedure for making the disallowance u/s 14A c) The Hon'ble ITAT Special Bench, Mumbai in the case of Daga Capital Management Pvt. Ltd. & Others in 119 TTJ 289/117 ITD 269 has held ... record. h) Further, it is pertinent to mention here that the Id CIT(A) in his order for the A.Y.2006-07 has upheld the disallowance u/s 14A r.w.s.8D in toto. Earlier for the A.Y.2005-06, the Id.CIT(A) had upheld the disallowance under Rule 8D in principle. However as regards disallowance

Union Bank of India, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-1(1), Hyderabad

In the result, appeal filed by the assessee in ITA

ITA 365/HYD/2018[2014-15]Status: DisposedITAT Hyderabad24 Jan 2025AY 2014-15

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.350 & 351/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Dy. C. I. T. Vs. Andhra Bank Circle-1(1) Hyderabad Hyderabad [Pan : Aabca7375C] (Appellant) (Respondent) आ.अपी.सं /Ita No.364 & 365/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Union Bank Of India Vs. Dy. C. I. T. (Erstwhile Andhra Bank) Circle-1(1) Mumbai Hyderabad [Pan : Aaacu0564G (Aabca7375C)] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri S.Ananthan & Smt.Lalitha Rameswaran, Ar रधजस् व द्वधरध/Revenue By: Shri K.Meghnath Chowhan, Cit-Dr सुिवधई की तधरीख/Date Of 05/11/2024 Hearing: घोर्णध की तधरीख/Date Of 24/01/2025 Pronouncement: आदेश/Order Per Manjunatha G., A.M

For Appellant: Shri S.Ananthan &For Respondent: Shri K.Meghnath Chowhan
Section 143(3)Section 36(1)Section 36(1)(viii)

next issue that came up for our consideration from Ground No.3 of assessee’s appeal is addition towards disallowance u/s 14A r.w.rule 8D of I.T. Rules, 1962. During the financial year relevant to A.Y 2013-14, the appellant earned dividend income of Rs.5,87,06,000/- and claimed exempt u/s ... computed in terms of prescribed procedure provided under Rule 8D of I.T. Rules, 1962. Therefore, by taking note of relevant facts, has computed disallowance u/s 14A of the Act for Rs.12,47,47,560/- @ 0.5% on average value of investment. 32. On appeal, the Ld. CIT (A) sustained the additions

Union Bank of India (Erstwhile- Andhra Bank), Mumbai vs. Dy. Commissioner of Income Tax, Circle-1(1), Hyderabad

In the result, appeal filed by the assessee in ITA

ITA 364/HYD/2018[2013-14]Status: DisposedITAT Hyderabad24 Jan 2025AY 2013-14

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.350 & 351/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Dy. C. I. T. Vs. Andhra Bank Circle-1(1) Hyderabad Hyderabad [Pan : Aabca7375C] (Appellant) (Respondent) आ.अपी.सं /Ita No.364 & 365/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Union Bank Of India Vs. Dy. C. I. T. (Erstwhile Andhra Bank) Circle-1(1) Mumbai Hyderabad [Pan : Aaacu0564G (Aabca7375C)] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri S.Ananthan & Smt.Lalitha Rameswaran, Ar रधजस् व द्वधरध/Revenue By: Shri K.Meghnath Chowhan, Cit-Dr सुिवधई की तधरीख/Date Of 05/11/2024 Hearing: घोर्णध की तधरीख/Date Of 24/01/2025 Pronouncement: आदेश/Order Per Manjunatha G., A.M

For Appellant: Shri S.Ananthan &For Respondent: Shri K.Meghnath Chowhan
Section 143(3)Section 36(1)Section 36(1)(viii)

next issue that came up for our consideration from Ground No.3 of assessee’s appeal is addition towards disallowance u/s 14A r.w.rule 8D of I.T. Rules, 1962. During the financial year relevant to A.Y 2013-14, the appellant earned dividend income of Rs.5,87,06,000/- and claimed exempt u/s ... computed in terms of prescribed procedure provided under Rule 8D of I.T. Rules, 1962. Therefore, by taking note of relevant facts, has computed disallowance u/s 14A of the Act for Rs.12,47,47,560/- @ 0.5% on average value of investment. 32. On appeal, the Ld. CIT (A) sustained the additions

Dy. Commissioner of Income Tax, Circle-1(1), Hyderabad vs. Andhra Bank, Hyderabad

In the result, appeal filed by the assessee in ITA

ITA 351/HYD/2018[2014-15]Status: DisposedITAT Hyderabad24 Jan 2025AY 2014-15

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.350 & 351/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Dy. C. I. T. Vs. Andhra Bank Circle-1(1) Hyderabad Hyderabad [Pan : Aabca7375C] (Appellant) (Respondent) आ.अपी.सं /Ita No.364 & 365/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Union Bank Of India Vs. Dy. C. I. T. (Erstwhile Andhra Bank) Circle-1(1) Mumbai Hyderabad [Pan : Aaacu0564G (Aabca7375C)] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri S.Ananthan & Smt.Lalitha Rameswaran, Ar रधजस् व द्वधरध/Revenue By: Shri K.Meghnath Chowhan, Cit-Dr सुिवधई की तधरीख/Date Of 05/11/2024 Hearing: घोर्णध की तधरीख/Date Of 24/01/2025 Pronouncement: आदेश/Order Per Manjunatha G., A.M

For Appellant: Shri S.Ananthan &For Respondent: Shri K.Meghnath Chowhan
Section 143(3)Section 36(1)Section 36(1)(viii)

next issue that came up for our consideration from Ground No.3 of assessee’s appeal is addition towards disallowance u/s 14A r.w.rule 8D of I.T. Rules, 1962. During the financial year relevant to A.Y 2013-14, the appellant earned dividend income of Rs.5,87,06,000/- and claimed exempt u/s ... computed in terms of prescribed procedure provided under Rule 8D of I.T. Rules, 1962. Therefore, by taking note of relevant facts, has computed disallowance u/s 14A of the Act for Rs.12,47,47,560/- @ 0.5% on average value of investment. 32. On appeal, the Ld. CIT (A) sustained the additions

Dy. Commissioner of Income Tax, Circle-1(1), Hyderabad vs. Andhra Bank, Hyderabad

In the result, appeal filed by the assessee in ITA

ITA 350/HYD/2018[2013-14]Status: DisposedITAT Hyderabad24 Jan 2025AY 2013-14

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.350 & 351/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Dy. C. I. T. Vs. Andhra Bank Circle-1(1) Hyderabad Hyderabad [Pan : Aabca7375C] (Appellant) (Respondent) आ.अपी.सं /Ita No.364 & 365/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Union Bank Of India Vs. Dy. C. I. T. (Erstwhile Andhra Bank) Circle-1(1) Mumbai Hyderabad [Pan : Aaacu0564G (Aabca7375C)] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri S.Ananthan & Smt.Lalitha Rameswaran, Ar रधजस् व द्वधरध/Revenue By: Shri K.Meghnath Chowhan, Cit-Dr सुिवधई की तधरीख/Date Of 05/11/2024 Hearing: घोर्णध की तधरीख/Date Of 24/01/2025 Pronouncement: आदेश/Order Per Manjunatha G., A.M

For Appellant: Shri S.Ananthan &For Respondent: Shri K.Meghnath Chowhan
Section 143(3)Section 36(1)Section 36(1)(viii)

next issue that came up for our consideration from Ground No.3 of assessee’s appeal is addition towards disallowance u/s 14A r.w.rule 8D of I.T. Rules, 1962. During the financial year relevant to A.Y 2013-14, the appellant earned dividend income of Rs.5,87,06,000/- and claimed exempt u/s ... computed in terms of prescribed procedure provided under Rule 8D of I.T. Rules, 1962. Therefore, by taking note of relevant facts, has computed disallowance u/s 14A of the Act for Rs.12,47,47,560/- @ 0.5% on average value of investment. 32. On appeal, the Ld. CIT (A) sustained the additions

DCIT Cen Cir 1(4), Mumbai vs. Essel Mining & Industries Ltd, Kolkatta

In the result, the appeals filed by the Revenue are dismissed and appeals filed by the Assessee are partly allowed

ITA 480/MUM/2017[2012-13]Status: DisposedITAT Kolkata23 Jan 2025AY 2012-13
Section 10BSection 143(3)Section 14ASection 250Section 801A

Aggrieved by the disallowance made the AO, the appellant preferred an appeal before the Ld. CIT(A), who partially deleted the disallowance u/s 14A of the Act. The Ld. CIT(A) inter alia directed the AO to net off the interest income of Rs.2677.87 lacs from interest expense ... lacs while calculating the disallowance u/s 14A r.w. Rule 8D(2)(ii) for the AY 2011-12. The Ld. CIT(A) also directed the AO to exclude the investment of Rs.2996.96 lacs in subsidiary on the basis that no dividend income was earned from such subsidiary. Aggrieved by the order

Essel Mining & Industries Limited, Kolkatta vs. DCIT Central Circle - 1(4), Mumbai

In the result, the appeals filed by the Revenue are dismissed and appeals filed by the Assessee are partly allowed

ITA 2430/KOL/2016[2012-13]Status: DisposedITAT Kolkata23 Jan 2025AY 2012-13

Bench: SHRI SANJAY GARG, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Section 10BSection 143(3)Section 14ASection 250Section 801A

Aggrieved by the disallowance made the AO, the appellant preferred an appeal before the Ld. CIT(A), who partially deleted the disallowance u/s 14A of the Act. The Ld. CIT(A) inter alia directed the AO to net off the interest income of Rs.2677.87 lacs from interest expense ... lacs while calculating the disallowance u/s 14A r.w. Rule 8D(2)(ii) for the AY 2011-12. The Ld. CIT(A) also directed the AO to exclude the investment of Rs.2996.96 lacs in subsidiary on the basis that no dividend income was earned from such subsidiary. Aggrieved by the order

DCIT Cen Cir 1(4), Mumbai vs. Essel Mining & Industries Ltd, Kolkatta

In the result, the appeals filed by the Revenue are dismissed and appeals filed by the Assessee are partly allowed

ITA 373/MUM/2015[2011-12]Status: DisposedITAT Kolkata23 Jan 2025AY 2011-12

Bench: SHRI SANJAY GARG, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Section 10BSection 143(3)Section 14ASection 250Section 801A

Aggrieved by the disallowance made the AO, the appellant preferred an appeal before the Ld. CIT(A), who partially deleted the disallowance u/s 14A of the Act. The Ld. CIT(A) inter alia directed the AO to net off the interest income of Rs.2677.87 lacs from interest expense ... lacs while calculating the disallowance u/s 14A r.w. Rule 8D(2)(ii) for the AY 2011-12. The Ld. CIT(A) also directed the AO to exclude the investment of Rs.2996.96 lacs in subsidiary on the basis that no dividend income was earned from such subsidiary. Aggrieved by the order

Essel Mining & Industries Limited, Kolkata vs. DCIT, Circle-5, Kolkata

In the result, the appeals filed by the Revenue are dismissed and appeals filed by the Assessee are partly allowed

ITA 2092/KOL/2014[2011-2012]Status: DisposedITAT Kolkata23 Jan 2025AY 2011-2012

Bench: SHRI SANJAY GARG, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Section 10BSection 143(3)Section 14ASection 250Section 801A

Aggrieved by the disallowance made the AO, the appellant preferred an appeal before the Ld. CIT(A), who partially deleted the disallowance u/s 14A of the Act. The Ld. CIT(A) inter alia directed the AO to net off the interest income of Rs.2677.87 lacs from interest expense ... lacs while calculating the disallowance u/s 14A r.w. Rule 8D(2)(ii) for the AY 2011-12. The Ld. CIT(A) also directed the AO to exclude the investment of Rs.2996.96 lacs in subsidiary on the basis that no dividend income was earned from such subsidiary. Aggrieved by the order

M/S Jsw Infrastruture Limited, Mumbai vs. DCIT Circle-5(2)(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 6015/MUM/2024[2018-19]Status: DisposedITAT Mumbai23 Jan 2025AY 2018-19

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2018-19 M/S Jsw Infrastructure Ltd., Dy. Cit, Circle 5(2)(1), Jsw Centre Bandra Kurla Complex, Aayakar Bhavan, Maharishi Karve Bandra (East), Vs. Road, New Marine Lines, Churchgate, Mumbai-400051. Mumbai-400020. Pan No. Aabcj 6721 D Appellant Respondent

For Appellant: Ms. Vinita NaraFor Respondent: 02/01/2025
Section 14ASection 14A(2)

Assessing Officer referred to provisions of section ovisions of section 14A(2) of the Act and concluded that disallowance u/s 14A of the 14A(2) of the Act and concluded that disallowance u/s 14A of the 14A(2) of the Act and concluded that disallowance u/s 14A

Renu Sanewal As Legal Heir of Rajinder Singh Sanewal, Plot No vs. Income Tax Officer Ward-5, Rohtak

In the result the appeal filed by the assessee is allowed

ITA 1042/DEL/2024[2014-15]Status: DisposedITAT Delhi23 Jan 2025AY 2014-15

Bench: Sh. S. Rifaur Rahman & Sh. Sudhir Kumarassessment Year: 2015-16 Aarone Developers Private Vs. Dcit Circle – 1(1) Limited, 6Th Floor, Select New Delhi City Walk Mall, A-3, District Centre, Saket New Delhi-110017 Pan No. Aaacv0276C (Appellant) (Respondent)

Section 139(1)Section 143(3)Section 147Section 148Section 14A

claiming by the assessee u/s 14A of the Act. According to AO the assessee has not claimed the disallowance u/s 14A of the Act in the original return of income but disallowance made in the return of income filed in the response of the notice u/s

Lycos Internet Limited, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-16(1), Hyderabad

ITA 1769/HYD/2018[2012-13]Status: DisposedITAT Hyderabad22 Jan 2025AY 2012-13

Bench: Shri Vijay Pal Rao, Vice- & Shri Madhusudan Sawdia

For Appellant: Shri P Murali Mohan Rao, СА
Section 14ASection 249(4)(a)Section 263Section 36(1)(va)

income returned by it. 2. Alternatively and without prejudice to ground no.1, the CIT(A) erred in deleting the disallowance u/s 14A of Rs.3,89,56,740/-. 3. The CIT(A) erred in ignoring CBDT's Circular No.5 of 2014 dated 11.02.2014. 4. The CIT(A) erred in ignoring ... that the assessee has not earned any dividend income during the year under consideration and therefore, in view of the binding precedent, no disallowance u/s 14A of the Act is called for. In support of his contention, he has relied upon the judgment of the Hon'ble Supreme Court

Asst. Commissioner of Income Tax, Circle-16(1), Hyderabad vs. Lycos Internet Limited, Hyderabad

In the result, appeal filed by the assessee is allowed

ITA 1550/HYD/2017[2012-13]Status: DisposedITAT Hyderabad22 Jan 2025AY 2012-13

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Madhusudan Sawdiaआ.अपी.सं /Ita No.1550/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2012-13) Asstt. Commissioner Of Vs. Lycos Internet Ltd Income Tax, Circle 16 (1) Hyderabad Hyderabad Pan:Aaacl5827B (Appellant) (Respondent) आ.अपी.सं /Ita No.1769/Hyd/2018 (िनधा"रण वष"/Assessment Year: 2012-13) Lycos Internet Ltd Vs. Asstt. Commissioner Of Hyderabad Income Tax, Circle 16 (1) Pan:Aaacl5827B Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri B Bala Krishna, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 16/12/2024 घोषणा की तारीख/Pronouncement: 22/01/2025 आदेश/Order Per Vijay Pal Raothese Are Two Appeals, One By The Department Against The Order Dated 23/06/2017 Of The Learned Cit (A) & Another By The Assessee Against The Revision Order Dated 26/02/2018 Passed

For Appellant: Shri P Murali Mohan Rao, CAFor Respondent: : Shri B Bala Krishna, CIT(DR)
Section 14ASection 263

that the assessee has not earned any dividend income during the year under consideration and therefore, in view of the binding precedent, no disallowance u/s 14A of the Act is called for. In support of his contention, he has relied upon the judgment of the Hon'ble Supreme Court ... Punjab & Haryana High Court in the case of CIT vs. Hero Cycles Ltd (2010) 323 ITR 518 (P&H), no disallowance u/s 14A is called for when the assessee has not earned any dividend income during the year under consideration. Accordingly, in view of the facts as discussed above

Jil Information Technology Limited, New Delhi vs. Additional Commissioner of Income Tax, Lucknow

In the result, the appeal of the assessee is partly allowed

ITA 539/LKW/2014[2008-09]Status: DisposedITAT Lucknow21 Jan 2025AY 2008-09

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

assessment order against the appellant disallowed the expenses of Rs.64,88,451/- by observing that (a)The expenditure of Rs.64,88,451/- is disallowed u/s 14A of the I.T. Act. (b) Income from "export of software " is only Rs.9,73,599/- against which expenditure of Rs.64,88,451/- is quite ... appellant has not claimed any income as exempt against the expenses debited to the profit & loss Account, there is no scope of any disallowance u/s 14A of the Act and on this ground also addition of Rs.64,88,451/- deserves to be deleted. No applicability of Section 14A when

Maithan Alloys Ltd, Kolkata vs. DCIT, Cir. 1(1), Kolkata

In the result, the appeals of the assessee are partly allowed

ITA 544/KOL/2024[2014-15]Status: DisposedITAT Kolkata21 Jan 2025AY 2014-15

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

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

that amendment made in section 14A of the Act by finance Act,2022, will be applicable prospectively and it was also held that disallowance u/s 14A of the Act should not exceed the amount of exempt income earned by the assessee during the year. The issue is also covered ... held that the amendment made in Section 14A of the Act by Finance Act, 2022, will be applicable prospectively and also held that disallowance u/s 14A of the Act should not exceed the exempt income earned by the assessee during the year. Therefore, since the assessee has earned exempt income