https://www.taxtmi.com/caselaws?id=268248 The Tribunal partially allowed the appeals, directing the AO to reassess disallowances and deductions according to the Tribunal's decisions and legal precedents. The Tribunal emphasized a liberal interpretation of Section 54(1) of the Income Tax Act, allowing deductions for investments made within the stipulated period. It also highlighted the necessity for the AO to objectively evaluate the correctness of claims before applying Rule 8D for disallowances under Section 14A. The order was issued on 06.11.2015. en-us Fri, 06 Nov 2015 00:00:00 +0530 Mon, 23 Nov 2015 03:55:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268248 The Tribunal partially allowed the appeals, directing the AO to reassess disallowances and deductions according to the Tribunal's decisions and legal precedents. The Tribunal emphasized a liberal interpretation of Section 54(1) of the Income Tax Act, allowing deductions for investments made within the stipulated period. It also highlighted the necessity for the AO to objectively evaluate the correctness of claims before applying Rule 8D for disallowances under Section 14A. The order was issued on 06.11.2015. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268248