https://www.taxtmi.com/caselaws?id=191599 The court upheld the disallowance of 2% of expenditure under Section 14A of the Income Tax Act for earning dividend income, even when no actual expenses were incurred. Relying on precedents like the EID Parry case, the court dismissed the appellant's appeal and ruled in favor of the Revenue. Additionally, the court clarified that only actual expenditure related to income not forming part of total income should be disallowed under Section 14A, following precedents like Tube Investments of India Ltd. The appeals were dismissed, affirming the consistent legal position on the disallowance of estimated expenses under Section 14A. en-us Mon, 02 Feb 2015 00:00:00 +0530 Sat, 08 Apr 2017 09:48:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191599 The court upheld the disallowance of 2% of expenditure under Section 14A of the Income Tax Act for earning dividend income, even when no actual expenses were incurred. Relying on precedents like the EID Parry case, the court dismissed the appellant's appeal and ruled in favor of the Revenue. Additionally, the court clarified that only actual expenditure related to income not forming part of total income should be disallowed under Section 14A, following precedents like Tube Investments of India Ltd. The appeals were dismissed, affirming the consistent legal position on the disallowance of estimated expenses under Section 14A. Case-Laws Income Tax Mon, 02 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191599