https://www.taxtmi.com/caselaws?id=347974 The Tribunal allowed the Assessee's appeal against the disallowance under section 14A of the Income Tax Act. It held that the AO's disallowance based on presumption rather than actual expenditure was unsustainable. The Tribunal emphasized the necessity of a direct relationship between expenditure and income not forming part of the total income. It concluded that the disallowance made using Rule 8D of the IT Rules was unjustified, directing the deletion of the disallowance amount. en-us Wed, 13 Sep 2017 00:00:00 +0530 Thu, 14 Sep 2017 08:08:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347974 The Tribunal allowed the Assessee's appeal against the disallowance under section 14A of the Income Tax Act. It held that the AO's disallowance based on presumption rather than actual expenditure was unsustainable. The Tribunal emphasized the necessity of a direct relationship between expenditure and income not forming part of the total income. It concluded that the disallowance made using Rule 8D of the IT Rules was unjustified, directing the deletion of the disallowance amount. Case-Laws Income Tax Wed, 13 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347974