{"id":10914,"date":"2020-04-02T06:32:10","date_gmt":"2020-04-02T06:32:10","guid":{"rendered":"http:\/\/itatonline.org\/digest\/baroda-district-co-op-milk-producers-union-ltd-v-acit-2020-77-itr-87-sn-ahd-trib\/"},"modified":"2020-04-02T06:32:10","modified_gmt":"2020-04-02T06:32:10","slug":"baroda-district-co-op-milk-producers-union-ltd-v-acit-2020-77-itr-87-sn-ahd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/baroda-district-co-op-milk-producers-union-ltd-v-acit-2020-77-itr-87-sn-ahd-trib\/","title":{"rendered":"Baroda District Co-Op. Milk Producers Union Ltd. v. ACIT (2020) 77 ITR 87 (SN) (Ahd.)(Trib.)"},"content":{"rendered":"<p>The assessee had not debited any expenditure nor claimed any expenditure for earning exempt income. On presumptive basis expenditure could not be calculated for disallowance. By applying the formula given in rule\u00a08D\u00a0read with S.14A, the AO had worked out an estimated disallowance at Rs.4,40,120. The rationality of estimating an expenditure of Rs.4,40,120 for earning a meagre dividend income of Rs.16,362 was unclear. The AO is directed to restrict disallowance under S.14A\u00a0to the extent of exempt income earned by the assessee, i.e., Rs. 16,362. As regards excess\u00a0 expenditure,<strong>\u00a0 <\/strong>disallowance is confirmed. (AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 14A : Disallowance of expenditure-Exempt income\u2013Neither debiting any expenditure nor claiming any expenditure\u2013Expenditure cannot be disallowed on presumptive basis-Disallowance is restricted to exempt income\u2013Claiming excess expenditure\u2013 Disallowance is confirmed.  [S. 80P(2)(iv),  R.8D] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-10914","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2Q2","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=10914"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10914\/revisions"}],"predecessor-version":[{"id":10915,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10914\/revisions\/10915"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=10914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=10914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=10914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}