https://www.taxtmi.com/caselaws?id=234720 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the AO under section 14A read with Rule 8D(2)(iii) of the I.T. Rules, 1962. The Tribunal emphasized that the AO failed to provide evidence of expenditure incurred to earn the exempt dividend income and did not satisfy the conditions for invoking Rule 8D. Citing relevant judicial precedents, the Tribunal concluded that the AO's mechanical application of Rule 8D without proper assessment was unjustified. Consequently, the revenue's appeal was dismissed, affirming the deletion of the disallowance. en-us Tue, 14 May 2013 00:00:00 +0530 Fri, 24 May 2013 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234720 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the AO under section 14A read with Rule 8D(2)(iii) of the I.T. Rules, 1962. The Tribunal emphasized that the AO failed to provide evidence of expenditure incurred to earn the exempt dividend income and did not satisfy the conditions for invoking Rule 8D. Citing relevant judicial precedents, the Tribunal concluded that the AO's mechanical application of Rule 8D without proper assessment was unjustified. Consequently, the revenue's appeal was dismissed, affirming the deletion of the disallowance. Case-Laws Income Tax Tue, 14 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234720