https://www.taxtmi.com/caselaws?id=372376 The High Court upheld the Tribunal's decision to delete the disallowance under Section 14A of the Income Tax Act. It emphasized the necessity for the Assessing Officer (AO) to have specific satisfaction regarding the inadequacy of the assessee's claim before applying Rule 8D. The Court reiterated that the application of Rule 8D is not automatic and must be based on the AO's satisfaction. The judgment aligns with earlier legal principles and decisions, emphasizing the importance of the AO's specific satisfaction in such matters. en-us Mon, 27 Aug 2018 00:00:00 +0530 Fri, 21 Dec 2018 07:09:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372376 The High Court upheld the Tribunal's decision to delete the disallowance under Section 14A of the Income Tax Act. It emphasized the necessity for the Assessing Officer (AO) to have specific satisfaction regarding the inadequacy of the assessee's claim before applying Rule 8D. The Court reiterated that the application of Rule 8D is not automatic and must be based on the AO's satisfaction. The judgment aligns with earlier legal principles and decisions, emphasizing the importance of the AO's specific satisfaction in such matters. Case-Laws Income Tax Mon, 27 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372376