https://www.taxtmi.com/caselaws?id=385487 The ITAT ruled in favor of the assessee, emphasizing the importance of establishing a valid link between the disallowed expenditure and the exempt income earned before invoking Section 14A of the Income Tax Act. The judgment highlighted the necessity for the AO to be satisfied with the correctness of the claim of the assessee regarding the expenditure incurred in relation to exempt income, as per Rule 8D of the IT Rules, to justify any disallowance. Ultimately, the ITAT directed the AO to delete the disallowance, allowing the appeal of the assessee. en-us Tue, 20 Aug 2019 00:00:00 +0530 Fri, 06 Sep 2019 07:28:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385487 The ITAT ruled in favor of the assessee, emphasizing the importance of establishing a valid link between the disallowed expenditure and the exempt income earned before invoking Section 14A of the Income Tax Act. The judgment highlighted the necessity for the AO to be satisfied with the correctness of the claim of the assessee regarding the expenditure incurred in relation to exempt income, as per Rule 8D of the IT Rules, to justify any disallowance. Ultimately, the ITAT directed the AO to delete the disallowance, allowing the appeal of the assessee. Case-Laws Income Tax Tue, 20 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385487