https://www.taxtmi.com/caselaws?id=306938 The High Court upheld the decisions of the Income Tax Appellate Tribunal regarding the challenge to the order under Section 260A of the Income Tax Act for Assessment Year 2004-05. The Court affirmed the disallowance of expenditure claimed on earning dividend income under Section 14A, supporting a 5% disallowance of dividend income. Additionally, the Court upheld the netting off of prior period income against prior period expenditure for disallowance, finding the Respondent's method justified and consistent with past practice. The appeal was dismissed as no substantial question of law arose from the Tribunal's decisions. en-us Tue, 20 Aug 2019 00:00:00 +0530 Tue, 07 Mar 2023 00:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306938 The High Court upheld the decisions of the Income Tax Appellate Tribunal regarding the challenge to the order under Section 260A of the Income Tax Act for Assessment Year 2004-05. The Court affirmed the disallowance of expenditure claimed on earning dividend income under Section 14A, supporting a 5% disallowance of dividend income. Additionally, the Court upheld the netting off of prior period income against prior period expenditure for disallowance, finding the Respondent's method justified and consistent with past practice. The appeal was dismissed as no substantial question of law arose from the Tribunal's decisions. Case-Laws Income Tax Tue, 20 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306938