https://www.taxtmi.com/caselaws?id=345979 HC held that s.14A and Rule 8D require the AO to be satisfied that the assessee's claim of expenditure attributable to exempt income is incorrect before applying the formula in sub-rule (2); but satisfaction need not follow a prescribed form so long as sufficient material exists and is recorded in the assessment order. The AO provided detailed reasons rejecting the assessee's contention of no expenditure, and the Tribunal confirmed that view. The AO's application of Rule 8D was upheld and the appeal was dismissed against the assessee. en-us Tue, 25 Jul 2017 00:00:00 +0530 Mon, 15 Sep 2025 13:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345979 HC held that s.14A and Rule 8D require the AO to be satisfied that the assessee's claim of expenditure attributable to exempt income is incorrect before applying the formula in sub-rule (2); but satisfaction need not follow a prescribed form so long as sufficient material exists and is recorded in the assessment order. The AO provided detailed reasons rejecting the assessee's contention of no expenditure, and the Tribunal confirmed that view. The AO's application of Rule 8D was upheld and the appeal was dismissed against the assessee. Case-Laws Income Tax Tue, 25 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345979