https://www.taxtmi.com/caselaws?id=243135 The Tribunal upheld the disallowance of Rs.15,60,967/- under Section 14A of the Income Tax Act for the assessment year 2009-10. The Tribunal found that the assessee failed to substantiate claims, particularly regarding the agreement to the disallowance and justification for the disallowance. Despite the assessee's arguments, the Tribunal concluded that the disallowance was justified under Rule 8D of the Income Tax Rules, emphasizing the lack of concrete evidence to support the assessee's position. Consequently, the appeal was dismissed, affirming the validity of the disallowance made by the Assessing Officer. en-us Wed, 30 Oct 2013 00:00:00 +0530 Sun, 26 Jan 2014 18:39:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243135 The Tribunal upheld the disallowance of Rs.15,60,967/- under Section 14A of the Income Tax Act for the assessment year 2009-10. The Tribunal found that the assessee failed to substantiate claims, particularly regarding the agreement to the disallowance and justification for the disallowance. Despite the assessee's arguments, the Tribunal concluded that the disallowance was justified under Rule 8D of the Income Tax Rules, emphasizing the lack of concrete evidence to support the assessee's position. Consequently, the appeal was dismissed, affirming the validity of the disallowance made by the Assessing Officer. Case-Laws Income Tax Wed, 30 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243135