https://www.taxtmi.com/caselaws?id=329223 The Tribunal ruled in favor of the assessee, emphasizing the necessity for the Assessing Officer to record satisfaction before invoking Rule 8D for the disallowance of expenditure related to exempt income under Section 14A of the Income Tax Act, 1961. The Tribunal held that the disallowance made without proper satisfaction was unsustainable, leading to the deletion of the disallowance amount. The judgment underscored the importance of adhering to legal procedures and ensuring accurate assessment in line with statutory requirements. en-us Thu, 02 Jun 2016 00:00:00 +0530 Sat, 25 Jun 2016 11:49:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329223 The Tribunal ruled in favor of the assessee, emphasizing the necessity for the Assessing Officer to record satisfaction before invoking Rule 8D for the disallowance of expenditure related to exempt income under Section 14A of the Income Tax Act, 1961. The Tribunal held that the disallowance made without proper satisfaction was unsustainable, leading to the deletion of the disallowance amount. The judgment underscored the importance of adhering to legal procedures and ensuring accurate assessment in line with statutory requirements. Case-Laws Income Tax Thu, 02 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329223