https://www.taxtmi.com/caselaws?id=283067 The appeal was allowed in favor of the assessee. The disallowance of interest paid on loans for share application money under section 14A of the Income Tax Act, 1961 was set aside by the ITAT Jaipur SMC Bench. The AO's failure to comply with the conditions of section 14A(2) and not applying Rule 8D led to the decision that no disallowance could be made. Consequently, the order confirming the disallowance was overturned, and the appellant's appeal was successful. en-us Fri, 14 Oct 2016 00:00:00 +0530 Thu, 05 Sep 2019 17:26:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283067 The appeal was allowed in favor of the assessee. The disallowance of interest paid on loans for share application money under section 14A of the Income Tax Act, 1961 was set aside by the ITAT Jaipur SMC Bench. The AO's failure to comply with the conditions of section 14A(2) and not applying Rule 8D led to the decision that no disallowance could be made. Consequently, the order confirming the disallowance was overturned, and the appellant's appeal was successful. Case-Laws Income Tax Fri, 14 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283067