https://www.taxtmi.com/caselaws?id=213108 In the case, the Tribunal directed the Assessing Officer to allow the assessee another opportunity to provide evidence for claiming old unrecoverable earnest money deposits as a business loss for A.Y. 2003-04. The Tribunal upheld the direction to recompute the disallowance under section 14A for A.Y. 2007-08 based on Rule 8D, in line with the judgment in a specific case. For A.Y. 2008-09, the Tribunal set aside the disallowance made by the AO under section 14A, instructing a re-computation after verifying the claim and ensuring correctness. The judgments highlighted the importance of substantiating claims with evidence and accurate computation under the Income Tax Act. en-us Mon, 30 Apr 2012 00:00:00 +0530 Sat, 16 Apr 2016 16:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213108 In the case, the Tribunal directed the Assessing Officer to allow the assessee another opportunity to provide evidence for claiming old unrecoverable earnest money deposits as a business loss for A.Y. 2003-04. The Tribunal upheld the direction to recompute the disallowance under section 14A for A.Y. 2007-08 based on Rule 8D, in line with the judgment in a specific case. For A.Y. 2008-09, the Tribunal set aside the disallowance made by the AO under section 14A, instructing a re-computation after verifying the claim and ensuring correctness. The judgments highlighted the importance of substantiating claims with evidence and accurate computation under the Income Tax Act. Case-Laws Income Tax Mon, 30 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213108