https://www.taxtmi.com/caselaws?id=411088 The High Court upheld the Tribunal's decisions in a case involving the interpretation and application of provisions under the Income Tax Act, 1961. It affirmed that expenditure claimed by the appellant is subject to disallowance under Section 14A to prevent deductions for income not forming part of the total income. The Court also confirmed that income from investments in shares falls under Section 10(33) and emphasized the need to disallow related expenditure. Additionally, it upheld the application of Section 14A with Rule 8D to determine expenditure even in cases of strategic investments. The Court supported the Tribunal's decision not to apply amended Rule 8D in computing disallowance under Section 14A. en-us Tue, 10 Aug 2021 00:00:00 +0530 Tue, 17 Aug 2021 09:02:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411088 The High Court upheld the Tribunal's decisions in a case involving the interpretation and application of provisions under the Income Tax Act, 1961. It affirmed that expenditure claimed by the appellant is subject to disallowance under Section 14A to prevent deductions for income not forming part of the total income. The Court also confirmed that income from investments in shares falls under Section 10(33) and emphasized the need to disallow related expenditure. Additionally, it upheld the application of Section 14A with Rule 8D to determine expenditure even in cases of strategic investments. The Court supported the Tribunal's decision not to apply amended Rule 8D in computing disallowance under Section 14A. Case-Laws Income Tax Tue, 10 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411088