https://www.taxtmi.com/caselaws?id=283685 The Tax Appeal was dismissed by the Tribunal as it found that the Assessing Officer did not properly record satisfaction regarding the correctness of the claim of the assessee in relation to the expenditure incurred to earn exempt income, as required by Section 14A(2) of the Income Tax Act, 1961. Consequently, the disallowance made by the Assessing Officer was not upheld, and the Tribunal allowed the assessee's appeal due to the Assessing Officer's failure to follow the proper procedure in making the disallowance under Section 14A. The Tribunal emphasized that Rule 8D(2) of the Income Tax Rules would only apply if Section 14A(2) is invoked, which was not the case here. en-us Tue, 29 Jan 2019 00:00:00 +0530 Sun, 06 Oct 2019 11:16:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283685 The Tax Appeal was dismissed by the Tribunal as it found that the Assessing Officer did not properly record satisfaction regarding the correctness of the claim of the assessee in relation to the expenditure incurred to earn exempt income, as required by Section 14A(2) of the Income Tax Act, 1961. Consequently, the disallowance made by the Assessing Officer was not upheld, and the Tribunal allowed the assessee's appeal due to the Assessing Officer's failure to follow the proper procedure in making the disallowance under Section 14A. The Tribunal emphasized that Rule 8D(2) of the Income Tax Rules would only apply if Section 14A(2) is invoked, which was not the case here. Case-Laws Income Tax Tue, 29 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283685