https://www.taxtmi.com/caselaws?id=354293 Disallowance under section 14A read with Rule 8D requires the Assessing Officer to first examine the accounts and record clear dissatisfaction with the assessee's claim that no expenditure was incurred to earn exempt income; without that foundational satisfaction, the disallowance is unsustainable. Provision for leave encashment under section 43B(f) was also discussed in the context of pending Supreme Court proceedings on the provision's constitutional validity, so the issue was directed to be reconsidered by the Assessing Officer depending on the final outcome of that litigation. The matter was therefore treated as partly allowed for statistical purposes. en-us Wed, 10 Jan 2018 00:00:00 +0530 Tue, 23 Jan 2018 08:58:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354293 Disallowance under section 14A read with Rule 8D requires the Assessing Officer to first examine the accounts and record clear dissatisfaction with the assessee's claim that no expenditure was incurred to earn exempt income; without that foundational satisfaction, the disallowance is unsustainable. Provision for leave encashment under section 43B(f) was also discussed in the context of pending Supreme Court proceedings on the provision's constitutional validity, so the issue was directed to be reconsidered by the Assessing Officer depending on the final outcome of that litigation. The matter was therefore treated as partly allowed for statistical purposes. Case-Laws Income Tax Wed, 10 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354293