{"id":11328,"date":"2020-05-13T14:17:20","date_gmt":"2020-05-13T14:17:20","guid":{"rendered":"http:\/\/itatonline.org\/digest\/nirved-traders-pvt-ltd-2020-421-itr-142-bom-hc-2\/"},"modified":"2020-05-13T14:17:20","modified_gmt":"2020-05-13T14:17:20","slug":"nirved-traders-pvt-ltd-2020-421-itr-142-bom-hc-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/nirved-traders-pvt-ltd-2020-421-itr-142-bom-hc-2\/","title":{"rendered":"Nirved Traders Pvt. Ltd. (2020) 421 ITR 142 (Bom) (HC)"},"content":{"rendered":"<p>The assessee earned dividend income of Rs.1,13,72,545 which was exempt from tax. The AO disallowed interest and administrative expenditure in relation to the exempt income in a sum of Rs.4,22,72,425\/- of the Act. The Tribunal confirmed the disallowances. On appeal court held that the disallowance under section\u00a014A\u00a0read with rule\u00a08D\u00a0could not exceed the assessee&#8217;s exempt income. The disallowance under section\u00a014A\u00a0was to be limited to the extent of the dividend income earned by the assessee which was exempt from tax. (AY. 2008 -09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 14A: Disallowance of expenditure &#8211; Exempt income -Disallowance cannot exceed assessee&#8217;s exempt income. [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_post_was_ever_published":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":""},"categories":[1],"tags":[],"class_list":["post-11328","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2WI","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11328","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=11328"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11328\/revisions"}],"predecessor-version":[{"id":11329,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11328\/revisions\/11329"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=11328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=11328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=11328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}