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
Relief to IDFC: ITAT Directs AO to Limit Disallowance u/s 14A to 0.5% of Exempt Income Earned Based on Rule 8D(2)(iii)
Financial ManagementIncome Tax
The ITAT provided relief to IDFC, directing the Assessing Officer (AO) to limit the disallowance under Section 14A of the Income Tax Act to 0.5% of the exempt income earned. The case deals with the complexities surrounding tax exemptions for income earned from investments and the application of Rule 8D(2)(iii).
