relatable to earning of income exempt u/s 10 (excluding section
10(38) or section 11 or section 12 are added back while computing
adjusted ... while computing book profits as per section
115JB as Explanation to that section does not specifically mentions
section 14A of the Income
inter alia, observed that for attracting section 14A of the
Act there has to be a proximate cause for disallowance, which is
its relationship with ... Reading section 14 in juxtaposition with sections 15 to 59 ,
it is clear that the words "expenditure incurred" in section 14A
refers
regarding the issue of disallowance of Rs. 3,27,500/-
under Section 14A of the Act. The ld. Assessing Officer observed that the
dividend income ... under:
"From a plain reading of the section it is amply clear that section 14A
covers all cases relating to income which
respect of the same under Section 10(33) of the IT Act. The AO, invoking Section 14A held that, since it was not in dispute ... received dividend income exempt under Section 10(33) . It appears to have been contended before the Tribunal that Section 14A does not override the provisions
Thus disallowance under section 14A of Income tax Act
1961 read with Rule 8-D of Income Tax Rule 1962 is made ... assessee submitted to the ld. CIT(A) that invoking of the Section 14A
5 ITA Nos. 4987 to 4989 & 5616/Del/2013
applying the said rule as
prescribed in sub-sections (2)/(3) of section 14A of the Act were not
satisfied.
5.2 That the Assessing Officer ... u/s 43B of the Act amounting to Rs.121,82,25,605/-. The AO
further made disallowance by invoking the provision of section 14A
inter alia, observed that for attracting section 14A of the
Act there has to be a proximate cause for disallowance, which is
its relationship with ... Reading section 14 in juxtaposition with sections 15 to 59 ,
it is clear that the words "expenditure incurred" in section 14A
refers
extent of Rs.82.67 crores
under section 14A read with Rule 8D of the I.T. Act
(ii) That the disallowance has been confirmed ... Reading
section 14 in juxtaposition with sections 15 to 59 ,
it is clear that the words "expenditure incurred"
in section 14A refers
sections (2) and (3) of section 14A
Sub-section (2) of section 14A of the said Act provides the manner in which
the Assessing Officer ... respect of such expenditure. Sub-section (3) is
nothing but an offshoot of sub-section (2) of section 14A . Sub-section (3)
applies to cases
confirming the disallowance of
Rs.14,51,315/- under section 14A of the Income-tax Act,
9. ITA No.4916/Del/2014 & Ors
DCIT ... DISALLOWANCE Disallowance of 14A Disallowance of 14A
under Rule 8D(2) (iii),
YEARS INCOME (in Rs.) OFFERED BY THE UNDER 14A MADE BY under Rule
