https://www.taxtmi.com/caselaws?id=290198 The HC dismissed the Revenue's appeal against ITAT's order concerning M/s Hindustan Clean Energy Ltd. for AY 2011-2012. The AO's disallowance of expenditure under Section 14A, invoking Rule 8D, was deemed unlawful due to the absence of requisite satisfaction. The Court clarified that Section 14A and Rule 8D could apply to investment companies, referencing the SC's decision in Maxopp Investment Ltd. The appeal was dismissed in limine, emphasizing the necessity for the AO to establish satisfaction before applying Rule 8D. en-us Thu, 05 Jul 2018 00:00:00 +0530 Thu, 14 Nov 2024 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290198 The HC dismissed the Revenue's appeal against ITAT's order concerning M/s Hindustan Clean Energy Ltd. for AY 2011-2012. The AO's disallowance of expenditure under Section 14A, invoking Rule 8D, was deemed unlawful due to the absence of requisite satisfaction. The Court clarified that Section 14A and Rule 8D could apply to investment companies, referencing the SC's decision in Maxopp Investment Ltd. The appeal was dismissed in limine, emphasizing the necessity for the AO to establish satisfaction before applying Rule 8D. Case-Laws Income Tax Thu, 05 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290198