https://www.taxtmi.com/caselaws?id=271809 The Appellate Tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the additional disallowance under section 14A of the Income Tax Act, 1961, and accept the initial voluntary disallowance made by the assessee. The Tribunal emphasized the importance of the AO providing valid reasons and following procedural requirements, including recording satisfaction as per Rule 8D(1) before invoking Rule 8D(2) for disallowances. The judgment underscores the necessity for tax authorities to justify disallowance amounts and adhere to procedural guidelines when dealing with section 14A cases. en-us Wed, 13 Jan 2016 00:00:00 +0530 Thu, 18 Feb 2016 07:06:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271809 The Appellate Tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the additional disallowance under section 14A of the Income Tax Act, 1961, and accept the initial voluntary disallowance made by the assessee. The Tribunal emphasized the importance of the AO providing valid reasons and following procedural requirements, including recording satisfaction as per Rule 8D(1) before invoking Rule 8D(2) for disallowances. The judgment underscores the necessity for tax authorities to justify disallowance amounts and adhere to procedural guidelines when dealing with section 14A cases. Case-Laws Income Tax Wed, 13 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271809