https://www.taxtmi.com/caselaws?id=269717 The Tribunal dismissed the revenue's appeal and upheld the CIT(A)'s decision to limit the disallowance amount under section 14A of the IT Act, 1961 r.w. Rule 8D(2)(ii) of the IT Rules to Rs. 18,90,931. The Tribunal emphasized the importance of assessing the adequacy of own funds for investments and required the AO to be unsatisfied with the expenditure claim before applying disallowance rules. en-us Fri, 30 Oct 2015 00:00:00 +0530 Fri, 18 Dec 2015 20:06:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269717 The Tribunal dismissed the revenue's appeal and upheld the CIT(A)'s decision to limit the disallowance amount under section 14A of the IT Act, 1961 r.w. Rule 8D(2)(ii) of the IT Rules to Rs. 18,90,931. The Tribunal emphasized the importance of assessing the adequacy of own funds for investments and required the AO to be unsatisfied with the expenditure claim before applying disallowance rules. Case-Laws Income Tax Fri, 30 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269717