Supreme Court: Companies Can Face Prosecution Without Individual Officers Being Named  ||  SC: Penalties on Insolvent Developers cannot be Recovered from Homebuyers as CIRP Costs  ||  Allahabad HC: ‘Sar Tan Se Juda’ Hits Sovereignty, Unlike ‘Allahu-Akbar’, ‘Jai Shri Ram’  ||  Kerala High Court: Married Woman Cannot Claim Sex Was Based Solely on Promise of Marriage  ||  Madras High Court Refuses Equal Recitation of Tamil Hymns With Sanskrit at Meenakshi Temple  ||  Delhi HC: Absence of ‘Penetration’ In Child Victim’s Testimony Not Enough to Acquit Rape Accused  ||  J&K High Court: Possession of Allegedly Anti-National Book Cannot Justify Preventive Detention  ||  Delhi High Court: DNA Evidence Proves Sexual Intercourse, Not Consent  ||  Madras High Court Upholds Appointment of District Judges as Tamil Nadu Lokayukta Secretary  ||  Allahabad High Court: IO’s Mere Apprehension Cannot Justify Withholding Seized Items    

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