https://www.taxtmi.com/caselaws?id=310945 The court remitted the issue concerning the interpretation of Section 14A of the Income Tax Act, 1961, back to the Assessing Officer to determine the applicability of disallowance when no expenditure was incurred for earning exempt income like dividends. The applicability of Rule 8D(2)(ii) was also questioned, given that the appellant's own funds exceeded the investment value. Additionally, the court clarified that Section 115JA does not apply to Banking Companies, impacting their tax liability and providing clarity on the scope of this provision. en-us Mon, 08 Feb 2021 00:00:00 +0530 Thu, 07 Dec 2023 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310945 The court remitted the issue concerning the interpretation of Section 14A of the Income Tax Act, 1961, back to the Assessing Officer to determine the applicability of disallowance when no expenditure was incurred for earning exempt income like dividends. The applicability of Rule 8D(2)(ii) was also questioned, given that the appellant's own funds exceeded the investment value. Additionally, the court clarified that Section 115JA does not apply to Banking Companies, impacting their tax liability and providing clarity on the scope of this provision. Case-Laws Income Tax Mon, 08 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310945