https://www.taxtmi.com/caselaws?id=357696 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s order regarding the disallowance of expenses under Section 14A of the Income Tax Act. The ITAT emphasized that expenses not related to earning exempt income should not be subject to disallowance and directed the deletion of excess additions made under Rule 8D. The decision stressed the importance of establishing a direct link between expenses and earning exempt income before disallowance, requiring assessing officers to verify the correctness of the assessee's claims before applying Rule 8D. en-us Tue, 27 Feb 2018 00:00:00 +0530 Wed, 28 Mar 2018 07:59:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357696 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s order regarding the disallowance of expenses under Section 14A of the Income Tax Act. The ITAT emphasized that expenses not related to earning exempt income should not be subject to disallowance and directed the deletion of excess additions made under Rule 8D. The decision stressed the importance of establishing a direct link between expenses and earning exempt income before disallowance, requiring assessing officers to verify the correctness of the assessee's claims before applying Rule 8D. Case-Laws Income Tax Tue, 27 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357696