ITAT Allows Full Deduction of NCD Discount in Year of Issue; Section 14A Disallowance Restricted to Exempt Income-Yielding Investment:
The ITAT allows upfront debenture discount deduction and restricts Section 14A to exempt income-yielding investments.
ITAT Rejects Revenue's Bid to Spread Debenture Discount Over Six Years
Meetu Kumari
Jul 5, 2026Premium
ITAT Allows Full Deduction of NCD Discount in Year of Issue; Section 14A Disallowance Restricted to Exempt Income-Yielding Investment
The ITAT allows upfront debenture discount deduction and restricts Section 14A to exempt income-yielding investments.
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Meetu Kumari
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Meetu Kumari is an Experienced Advocate and Content Writer with 4+ years of demonstrated history of working in the law practice industry. Skilled in Developing Content, Researching, and Drafting. Strong professional with a Bachelor of Science (B.Sc.) focused on Law from Gujarat National Law University.
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Jodhpur, Rajasthan, India
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