https://www.taxtmi.com/caselaws?id=253683 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to delete the disallowance of expenses related to exempt dividend income under Section 14A read with Rule 8D of the Income Tax Rules. The Tribunal emphasized that the Assessing Officer must record dissatisfaction with the correctness of the assessee's claim before invoking Rule 8D for disallowance. Citing various judgments, the Tribunal highlighted the necessity of recording dissatisfaction before determining disallowance under Section 14A. The decision was based on the absence of contrary material and in line with precedents indicating that disallowance is not sustainable if no expenditure is incurred for earning exempt income. en-us Tue, 11 Feb 2014 00:00:00 +0530 Mon, 01 Dec 2014 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253683 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to delete the disallowance of expenses related to exempt dividend income under Section 14A read with Rule 8D of the Income Tax Rules. The Tribunal emphasized that the Assessing Officer must record dissatisfaction with the correctness of the assessee's claim before invoking Rule 8D for disallowance. Citing various judgments, the Tribunal highlighted the necessity of recording dissatisfaction before determining disallowance under Section 14A. The decision was based on the absence of contrary material and in line with precedents indicating that disallowance is not sustainable if no expenditure is incurred for earning exempt income. Case-Laws Income Tax Tue, 11 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253683