https://www.taxtmi.com/caselaws?id=358410 The Court dismissed the appeal, upholding the ITAT's decision regarding disallowance under Section 14A of the Income Tax Act, 1961 in search assessment under Section 153A. Emphasizing the necessity for the Assessing Officer to provide adequate reasoning for disallowing claimed expenditures related to tax-exempt income, the Court reiterated that a mere rejection without proper justification is not acceptable. The decision highlighted the importance of reasoned decisions in such matters to ensure fairness and adherence to legal principles. en-us Fri, 23 Mar 2018 00:00:00 +0530 Wed, 11 Apr 2018 08:03:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358410 The Court dismissed the appeal, upholding the ITAT's decision regarding disallowance under Section 14A of the Income Tax Act, 1961 in search assessment under Section 153A. Emphasizing the necessity for the Assessing Officer to provide adequate reasoning for disallowing claimed expenditures related to tax-exempt income, the Court reiterated that a mere rejection without proper justification is not acceptable. The decision highlighted the importance of reasoned decisions in such matters to ensure fairness and adherence to legal principles. Case-Laws Income Tax Fri, 23 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358410