https://www.taxtmi.com/caselaws?id=214255 Section 14A disallowance under Rule 8D depends on the Assessing Officer, having regard to the accounts, recording objective dissatisfaction with the assessee's claim that no expenditure was incurred in relation to exempt income. The text notes that absence of exempt income alone does not automatically bar a disallowance, but Rule 8D cannot be invoked without the required satisfaction and supporting material. On the facts described, no material was brought to disprove the assessee's claim, so the precondition for computation under Rule 8D was not met and the impugned disallowance was deleted. en-us Fri, 17 Feb 2012 00:00:00 +0530 Sat, 16 Jun 2012 16:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214255 Section 14A disallowance under Rule 8D depends on the Assessing Officer, having regard to the accounts, recording objective dissatisfaction with the assessee's claim that no expenditure was incurred in relation to exempt income. The text notes that absence of exempt income alone does not automatically bar a disallowance, but Rule 8D cannot be invoked without the required satisfaction and supporting material. On the facts described, no material was brought to disprove the assessee's claim, so the precondition for computation under Rule 8D was not met and the impugned disallowance was deleted. Case-Laws Income Tax Fri, 17 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214255