https://www.taxtmi.com/caselaws?id=263613 The Income Tax Appellate Tribunal (ITAT) set aside the Assessing Officer's (AO) disallowance under Section 14A of the Income-tax Act, 1961, amounting to Rs. 7,59,498/- and directed a reconsideration. The ITAT ruled that the disallowance should be limited to the actual expenditure incurred for earning exempt income, excluding expenses of transferor companies and statutory expenses, while including investments in fixed assets and property in the total capital employed. The matter was remanded back to the AO for a fresh decision, granting the assessee a reasonable opportunity to present their case. en-us Wed, 26 Aug 2015 00:00:00 +0530 Mon, 07 Sep 2015 07:54:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263613 The Income Tax Appellate Tribunal (ITAT) set aside the Assessing Officer's (AO) disallowance under Section 14A of the Income-tax Act, 1961, amounting to Rs. 7,59,498/- and directed a reconsideration. The ITAT ruled that the disallowance should be limited to the actual expenditure incurred for earning exempt income, excluding expenses of transferor companies and statutory expenses, while including investments in fixed assets and property in the total capital employed. The matter was remanded back to the AO for a fresh decision, granting the assessee a reasonable opportunity to present their case. Case-Laws Income Tax Wed, 26 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263613