https://www.taxtmi.com/caselaws?id=254670 The Court upheld the CIT(A)'s decision to restrict the disallowance under Section 14A of the Income Tax Act to Rs. 64,04,548 and under Rule 8D(2)(iii) to Rs. 4,92,253, reducing the initial disallowance made by the Assessing Officer. However, the Tribunal set aside the CIT(A)'s order due to ambiguity in the disallowance computation, directing a fresh examination by the Assessing Officer to determine the correct disallowance amount. The judgment emphasized accurate computations and the Assessing Officer's satisfaction with the claim before applying Rule 8D, necessitating a clear analysis of facts. en-us Tue, 09 Dec 2014 00:00:00 +0530 Sun, 28 Dec 2014 19:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254670 The Court upheld the CIT(A)'s decision to restrict the disallowance under Section 14A of the Income Tax Act to Rs. 64,04,548 and under Rule 8D(2)(iii) to Rs. 4,92,253, reducing the initial disallowance made by the Assessing Officer. However, the Tribunal set aside the CIT(A)'s order due to ambiguity in the disallowance computation, directing a fresh examination by the Assessing Officer to determine the correct disallowance amount. The judgment emphasized accurate computations and the Assessing Officer's satisfaction with the claim before applying Rule 8D, necessitating a clear analysis of facts. Case-Laws Income Tax Tue, 09 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254670