https://www.taxtmi.com/caselaws?id=393880 Rule 8D computation under section 14A is permissible only where the Assessing Officer records dissatisfaction, having regard to the assessee's accounts, with the claim that no expenditure relates to exempt income. As no satisfaction under section 14A(2) had been recorded before invoking Rule 8D, the disallowance was held unsustainable. Once the primary disallowance failed, the corresponding addition of the same amount to book profit under section 115JB also did not survive. The result was in favour of the assessee. en-us Tue, 25 Feb 2020 00:00:00 +0530 Tue, 24 Mar 2020 12:44:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393880 Rule 8D computation under section 14A is permissible only where the Assessing Officer records dissatisfaction, having regard to the assessee's accounts, with the claim that no expenditure relates to exempt income. As no satisfaction under section 14A(2) had been recorded before invoking Rule 8D, the disallowance was held unsustainable. Once the primary disallowance failed, the corresponding addition of the same amount to book profit under section 115JB also did not survive. The result was in favour of the assessee. Case-Laws Income Tax Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393880