https://www.taxtmi.com/caselaws?id=372142 The ITAT upheld the disallowance of Rs. 5,26,256/- under Section 14A of the Income Tax Act, 1961 read with Rule 8D, emphasizing the lack of debited expenses for earning exempt income. The appeal against this disallowance was dismissed, citing the Delhi High Court's decision in a similar case. Additionally, the verification of audit fees payable was not pressed during the hearing, leading to its dismissal. The ITAT's decision was pronounced on 7/12/2018, affirming the disallowance and rejecting the appeal on both issues. en-us Fri, 07 Dec 2018 00:00:00 +0530 Tue, 18 Dec 2018 12:41:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372142 The ITAT upheld the disallowance of Rs. 5,26,256/- under Section 14A of the Income Tax Act, 1961 read with Rule 8D, emphasizing the lack of debited expenses for earning exempt income. The appeal against this disallowance was dismissed, citing the Delhi High Court's decision in a similar case. Additionally, the verification of audit fees payable was not pressed during the hearing, leading to its dismissal. The ITAT's decision was pronounced on 7/12/2018, affirming the disallowance and rejecting the appeal on both issues. Case-Laws Income Tax Fri, 07 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372142