https://www.taxtmi.com/caselaws?id=374048 The Tribunal allowed the respondent's appeal challenging the disallowance under Section 14A of the Income Tax Act. It held that the Assessing Officer must express dissatisfaction with the assessee's claim before applying Rule 8D for disallowance related to exempt income. The Tribunal's decision was in line with the Supreme Court's ruling that the Assessing Officer's satisfaction is essential before invoking Rule 8D. As the Assessing Officer did not express dissatisfaction with the respondent's claim, the Tribunal found the application of Rule 8D inappropriate and dismissed the Tax Appeal. en-us Mon, 21 Jan 2019 00:00:00 +0530 Thu, 24 Jan 2019 07:28:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374048 The Tribunal allowed the respondent's appeal challenging the disallowance under Section 14A of the Income Tax Act. It held that the Assessing Officer must express dissatisfaction with the assessee's claim before applying Rule 8D for disallowance related to exempt income. The Tribunal's decision was in line with the Supreme Court's ruling that the Assessing Officer's satisfaction is essential before invoking Rule 8D. As the Assessing Officer did not express dissatisfaction with the respondent's claim, the Tribunal found the application of Rule 8D inappropriate and dismissed the Tax Appeal. Case-Laws Income Tax Mon, 21 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374048