https://www.taxtmi.com/caselaws?id=370302 The Tribunal upheld the decision of the Commission of Income Tax (Appeals) in a case involving the interpretation of Section 14A of the Income Tax Act, 1961. The court emphasized the necessity for the Assessing Officer to be satisfied before invoking Rule 8D for computing disallowance related to exempt income. The court ruled that the Assessing Officer's failure to record necessary satisfaction rendered the application of Rule 8D invalid in this instance, following the principles established in the Godrej & Boyce Manufacturing Company Ltd. case. en-us Fri, 07 Sep 2018 00:00:00 +0530 Wed, 14 Nov 2018 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370302 The Tribunal upheld the decision of the Commission of Income Tax (Appeals) in a case involving the interpretation of Section 14A of the Income Tax Act, 1961. The court emphasized the necessity for the Assessing Officer to be satisfied before invoking Rule 8D for computing disallowance related to exempt income. The court ruled that the Assessing Officer's failure to record necessary satisfaction rendered the application of Rule 8D invalid in this instance, following the principles established in the Godrej & Boyce Manufacturing Company Ltd. case. Case-Laws Income Tax Fri, 07 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370302