https://www.taxtmi.com/caselaws?id=258595 The Tribunal held that the disallowance of expenses under Section 14A of the Income-tax Act, 1961 could not be sustained as neither the Assessing Officer nor the CIT(A) recorded the necessary satisfaction required by the section. The Tribunal emphasized that the Assessing Officer's satisfaction is a prerequisite for invoking Section 14A and making such disallowances. Without proper satisfaction, no disallowance can be upheld, leading to the deletion of the addition made under Section 14A in this case. The judgment stressed the importance of following legal procedures and requirements for confirming disallowances under tax laws. en-us Fri, 20 Mar 2015 00:00:00 +0530 Wed, 15 Apr 2015 13:24:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258595 The Tribunal held that the disallowance of expenses under Section 14A of the Income-tax Act, 1961 could not be sustained as neither the Assessing Officer nor the CIT(A) recorded the necessary satisfaction required by the section. The Tribunal emphasized that the Assessing Officer's satisfaction is a prerequisite for invoking Section 14A and making such disallowances. Without proper satisfaction, no disallowance can be upheld, leading to the deletion of the addition made under Section 14A in this case. The judgment stressed the importance of following legal procedures and requirements for confirming disallowances under tax laws. Case-Laws Income Tax Fri, 20 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258595