Judgement

The ITAT Kolkata Holds Share subscribers’ identity, creditworthiness and genuineness established through documentary evidence.


 ITAT Holds No Section 14A Disallowance Without Exempt Income

The ITAT granted relief from enhanced Section 14A disallowance due to lack of mandatory satisfaction by the AO and remanded the expected loss provision issue for fresh examination.

ITAT Holds Rule 8D Cannot Be Invoked Without Recording Satisfaction, Remands Rs 119.56 Crore Expected Loss Claim

Tribunal grants relief on Section 80-IE, Section 14A, MAT adjustments and Debenture Redemption Reserve.

ITAT Allows Section 80-IE, Deletes Section 14A and MAT Additions

ITAT holds deductions under Sections 36(1)(viia) and 36(1)(viii) operate independently for computation purposes.

ITAT Deletes Rs 25.12 Crore Disallowance on Independent Section 36 Deduction Computation

ITAT allows upfront debenture discount deduction and restricts Section 14A to exempt income-yielding investments.

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ITAT Holds No Section 14A Disallowance Without Exempt Income

ITAT Holds Rule 8D Cannot Be Invoked Without Recording Satisfaction, Remands Rs 119.56 Crore Expected Loss Claim

ITAT Allows Section 80-IE, Deletes Section 14A and MAT Additions

ITAT Deletes Rs 25.12 Crore Disallowance on Independent Section 36 Deduction Computation

ITAT Allows Full Deduction of NCD Discount in Year of Issue; Section 14A Disallowance Restricted to Exempt Income-Yielding Investment

ITAT Holds No Disallowance under Section 14A if No Exempt Income is Earned