Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
ITAT caps S.14A Disallowance at 1% of Dividend Income for Period prior to Rule 8D, Income Tax Rules
Appeal Against OrderIncome Tax
The ITAT has capped the disallowance under Section 14A of the Income Tax Act at 1% of the dividend income for the period prior to the introduction of Rule 8D. The tribunal's decision provides relief to taxpayers by limiting the disallowance to a reasonable percentage. This ruling ensures that taxpayers are not over-burdened with disallowances and sets a clear benchmark for future assessments.
