https://www.taxtmi.com/caselaws?id=389793 The Appellate Tribunal ITAT Ahmedabad allowed the assessee's appeals, setting aside disallowances under section 14A for Assessment Years 2012-13 and 2013-14. The Tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the additions made, as the own funds exceeded investments, warranting no disallowance. The Tribunal also noted that the AO mechanically applied rule 8D without considering the assessee's accounts, leading to the conclusion that no administrative expenses disallowance was justified. en-us Fri, 06 Dec 2019 00:00:00 +0530 Tue, 17 Dec 2019 15:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389793 The Appellate Tribunal ITAT Ahmedabad allowed the assessee's appeals, setting aside disallowances under section 14A for Assessment Years 2012-13 and 2013-14. The Tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the additions made, as the own funds exceeded investments, warranting no disallowance. The Tribunal also noted that the AO mechanically applied rule 8D without considering the assessee's accounts, leading to the conclusion that no administrative expenses disallowance was justified. Case-Laws Income Tax Fri, 06 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389793