https://www.taxtmi.com/caselaws?id=284647 The Tribunal upheld the deletion of disallowance by CIT(A) in two Misc. Applications of Revenue concerning disallowance under section 14A read with Rule 8D. It found the AO failed to demonstrate any mistake or valid basis for rejecting the assessee's claim, emphasizing the necessity of proper satisfaction and clear error demonstration before disallowing expenses related to exempt income. The Tribunal dismissed the Revenue's applications, affirming its original decision and stressing procedural fairness and statutory compliance. en-us Fri, 29 Mar 2019 00:00:00 +0530 Sat, 30 Nov 2019 15:53:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284647 The Tribunal upheld the deletion of disallowance by CIT(A) in two Misc. Applications of Revenue concerning disallowance under section 14A read with Rule 8D. It found the AO failed to demonstrate any mistake or valid basis for rejecting the assessee's claim, emphasizing the necessity of proper satisfaction and clear error demonstration before disallowing expenses related to exempt income. The Tribunal dismissed the Revenue's applications, affirming its original decision and stressing procedural fairness and statutory compliance. Case-Laws Income Tax Fri, 29 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284647