https://www.taxtmi.com/caselaws?id=192791 The Tribunal upheld the Assessing Officer's discretion in calculating disallowances under section 14A of the Income Tax Act, emphasizing the importance of objective assessment. It ruled in favor of the Assessee, rejecting the Commissioner of Income Tax's intervention under section 263 and quashing the CIT's order. The Tribunal allowed the Assessee's appeal, emphasizing the AO's authority to determine disallowances based on reasonable grounds and legal precedents. en-us Wed, 02 Mar 2016 00:00:00 +0530 Tue, 20 Jun 2017 22:22:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192791 The Tribunal upheld the Assessing Officer's discretion in calculating disallowances under section 14A of the Income Tax Act, emphasizing the importance of objective assessment. It ruled in favor of the Assessee, rejecting the Commissioner of Income Tax's intervention under section 263 and quashing the CIT's order. The Tribunal allowed the Assessee's appeal, emphasizing the AO's authority to determine disallowances based on reasonable grounds and legal precedents. Case-Laws Income Tax Wed, 02 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192791