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of <h1>Calcutta HC Permits 577-Day Delay in Appeal; Dismisses Revenue's Case for Failing to Record Satisfaction u/r 8D.</h1> <h3>PRINCIPAL COMMISSIONER OF INCOME TAX-2 KOLKATA Versus M/s. WEST BENGAL INFRASTRUCTURE DEVELOPMENT FINANCE CORPORATION LTD</h3> PRINCIPAL COMMISSIONER OF INCOME TAX-2 KOLKATA Versus M/s. WEST BENGAL INFRASTRUCTURE DEVELOPMENT FINANCE CORPORATION LTD - TMI The High Court of Calcutta allowed the condonation of a 577-day delay in filing an appeal under Section 260A of the Income Tax Act, 1961. The appeal by the revenue was dismissed as the assessing officer did not record satisfaction for invoking Rule 8D of the Income Tax Rules regarding disallowance under Section 14A of the Act. The Court upheld the decision of the Commissioner of Income Tax (Appeals) in favor of the assessee. The substantial question of law was answered against the revenue. (Case citation: ITAT/274/2022)
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