https://www.taxtmi.com/caselaws?id=333401 The appeal, filed with a 240-day delay, was admitted for adjudication after the Tribunal condoned the delay due to genuine reasons. The Tribunal ruled in favor of the assessee regarding the disallowance under section 14A of the Income Tax Act, emphasizing the necessity for the AO to record satisfaction before applying rule 8D. As the AO failed to do so, the disallowance was deleted, leading to the deletion of the addition while computing book profit under section 115JB. Consequently, the appeal was allowed on 25.08.2016. en-us Thu, 25 Aug 2016 00:00:00 +0530 Thu, 13 Oct 2016 09:42:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333401 The appeal, filed with a 240-day delay, was admitted for adjudication after the Tribunal condoned the delay due to genuine reasons. The Tribunal ruled in favor of the assessee regarding the disallowance under section 14A of the Income Tax Act, emphasizing the necessity for the AO to record satisfaction before applying rule 8D. As the AO failed to do so, the disallowance was deleted, leading to the deletion of the addition while computing book profit under section 115JB. Consequently, the appeal was allowed on 25.08.2016. Case-Laws Income Tax Thu, 25 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333401