https://www.taxtmi.com/caselaws?id=339478 The tribunal dismissed the revenue's appeal, upholding the deletion of the disallowance under section 14A for the assessment year 2005-06. It emphasized the need for proper assessment procedures and ruled that rule 8D should only be applied from its introduction year, making the disallowance unwarranted in this case. The tribunal supported the Ld. CIT (A)'s decision to delete the disallowance, highlighting the assessing officer's failure to provide valid reasons for applying rule 8D without verifying the accuracy of the claim. en-us Mon, 13 Feb 2017 00:00:00 +0530 Tue, 28 Feb 2017 11:42:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339478 The tribunal dismissed the revenue's appeal, upholding the deletion of the disallowance under section 14A for the assessment year 2005-06. It emphasized the need for proper assessment procedures and ruled that rule 8D should only be applied from its introduction year, making the disallowance unwarranted in this case. The tribunal supported the Ld. CIT (A)'s decision to delete the disallowance, highlighting the assessing officer's failure to provide valid reasons for applying rule 8D without verifying the accuracy of the claim. Case-Laws Income Tax Mon, 13 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339478