Calcutta HC Rejects Reliance on ‘Vedic Mantras’, Commutes Death Sentence in Wife’s Murder Case  ||  Tripura High Court Pulls Up State Over Failure to Implement Supreme Court's Open Prison Directions  ||  Calcutta HC Upholds Life Term for Father who Raped Minor Daughter, Causing Pregnancy  ||  Karnataka HC Directs Trial Courts, Police to Furnish S.164 of CrPC Statement Copies to Accused  ||  P&H HC: Immigration Fraud by Consultancies is a Growing Menace, Denies Pre-Arrest Bail Leniency  ||  CCPA Fines Rs. 1 Lakh Penalty on United Biscuits over Misleading ‘Wholewheat’ Claims  ||  Bombay HC Permits OTT Release of Hindi Film ‘Bandar’ Subject to Appropriate Disclaimers  ||  Gujarat HC Grants Bail to Marriage Bureau Owner, Finds No Link to Alleged ‘Looteri Dulhan’ Gang  ||  Calcutta HC: Minor’s Consent has No Mitigating Effect in POCSO Sexual Assault Cases  ||  Orissa HC Commutes Death Sentence, Says Emotion Cannot Override Established Law    

ITAT: Disallowance is Calculated Based on Average Value of Share - (02 Jun 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Pune Bench has held that as per Rule 8D(2)(iii) of Income-Tax Rule, 1962, the disallowance under Section 14A of Income-Tax Act, 1961 needs to be calculated on the basis of average value of the share by exempt income earned.

Tags : ITAT   INCOME TAX   DISALLOWANCE  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved