https://www.taxtmi.com/caselaws?id=371813 The High Court ruled that a drilling rig qualifies as a ship under Section 115VD of the Income Tax Act, aligning with a previous decision. The court decided to treat the issue as resolved until the Supreme Court's judgment. Regarding the disallowance of expenses under Section 14A using Rule 8D, the court found the assessing officer's application of the rule as mandatory without proper justification. Citing a Supreme Court judgment, the court emphasized that Rule 8D should only be used when the assessing officer is unsatisfied with the assessee's claim. Consequently, the court dismissed the appeals without costs. en-us Fri, 02 Nov 2018 00:00:00 +0530 Tue, 11 Dec 2018 06:33:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371813 The High Court ruled that a drilling rig qualifies as a ship under Section 115VD of the Income Tax Act, aligning with a previous decision. The court decided to treat the issue as resolved until the Supreme Court's judgment. Regarding the disallowance of expenses under Section 14A using Rule 8D, the court found the assessing officer's application of the rule as mandatory without proper justification. Citing a Supreme Court judgment, the court emphasized that Rule 8D should only be used when the assessing officer is unsatisfied with the assessee's claim. Consequently, the court dismissed the appeals without costs. Case-Laws Income Tax Fri, 02 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371813