https://www.taxtmi.com/caselaws?id=189824 The Tribunal partly allowed the appeal for AY 2008-09 by limiting the disallowance to a reasonable amount and fully allowed the appeal for AY 2009-10, ruling that no disallowance under Section 14A can occur in the absence of exempt income. The Tribunal stressed the importance of the AO recording satisfaction based on account examinations and cautioned against mechanically applying Rule 8D to prevent unreasonable outcomes. en-us Fri, 02 Sep 2016 00:00:00 +0530 Sat, 21 Jan 2017 17:58:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189824 The Tribunal partly allowed the appeal for AY 2008-09 by limiting the disallowance to a reasonable amount and fully allowed the appeal for AY 2009-10, ruling that no disallowance under Section 14A can occur in the absence of exempt income. The Tribunal stressed the importance of the AO recording satisfaction based on account examinations and cautioned against mechanically applying Rule 8D to prevent unreasonable outcomes. Case-Laws Income Tax Fri, 02 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189824