https://www.taxtmi.com/caselaws?id=365679 In a search assessment, Rule 8D could not be applied mechanically for a Section 14A disallowance against exempt dividend income; the Assessing Officer had to first record reasoned dissatisfaction with the assessee's suo motu disallowance and the basis of its computation. A bare rejection of the assessee's explanation, without disclosing reasons, was held insufficient to justify the addition in the manner adopted. No substantial question of law arose, and the appeals failed. en-us Wed, 24 Jan 2018 00:00:00 +0530 Wed, 22 Aug 2018 07:45:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365679 In a search assessment, Rule 8D could not be applied mechanically for a Section 14A disallowance against exempt dividend income; the Assessing Officer had to first record reasoned dissatisfaction with the assessee's suo motu disallowance and the basis of its computation. A bare rejection of the assessee's explanation, without disclosing reasons, was held insufficient to justify the addition in the manner adopted. No substantial question of law arose, and the appeals failed. Case-Laws Income Tax Wed, 24 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365679