https://www.taxtmi.com/caselaws?id=354563 The ITAT Mumbai ruled in favor of the Assessee in an appeal concerning disallowance under section 14A r.w.r. 8D of the Income Tax Rules. The tribunal found that the Assessing Officer had not sufficiently linked the expenses to the exempt income, leading to the decision that the disallowance was unwarranted. Emphasizing the necessity of establishing a direct connection between expenses and exempt income, the ITAT overturned the lower authorities' orders, providing relief to the Assessee. The judgment was delivered on 3rd January 2018. en-us Wed, 03 Jan 2018 00:00:00 +0530 Wed, 31 Jan 2018 16:55:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354563 The ITAT Mumbai ruled in favor of the Assessee in an appeal concerning disallowance under section 14A r.w.r. 8D of the Income Tax Rules. The tribunal found that the Assessing Officer had not sufficiently linked the expenses to the exempt income, leading to the decision that the disallowance was unwarranted. Emphasizing the necessity of establishing a direct connection between expenses and exempt income, the ITAT overturned the lower authorities' orders, providing relief to the Assessee. The judgment was delivered on 3rd January 2018. Case-Laws Income Tax Wed, 03 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354563