https://www.taxtmi.com/caselaws?id=336767 The High Court dismissed the revenue's appeal regarding the disallowance under Section 14A read with Rule 8D, emphasizing the requirement for the Assessing Officer to establish the correctness of the assessee's claim before disallowing expenses. The court upheld the ITAT's decision, citing the need for the AO to provide objective reasons for rejecting the assessee's voluntary disallowance. The issue of loans treated as deemed dividends under Section 2(22)(e) was not elaborated upon in the text. en-us Tue, 06 Dec 2016 00:00:00 +0530 Tue, 09 May 2017 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336767 The High Court dismissed the revenue's appeal regarding the disallowance under Section 14A read with Rule 8D, emphasizing the requirement for the Assessing Officer to establish the correctness of the assessee's claim before disallowing expenses. The court upheld the ITAT's decision, citing the need for the AO to provide objective reasons for rejecting the assessee's voluntary disallowance. The issue of loans treated as deemed dividends under Section 2(22)(e) was not elaborated upon in the text. Case-Laws Income Tax Tue, 06 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336767