https://www.taxtmi.com/caselaws?id=402420 The Appellate Tribunal ITAT Kolkata allowed both appeals for statistical purposes. The Tribunal emphasized the requirement for specific reasons for disallowance under section 14A read with Rule 8D, upheld the rule of consistency, and directed the Assessing Officer to grant relief to the appellant in accordance with the law. The disallowance made by the AO was deemed arbitrary and mechanical, leading to the deletion of the disallowance and allowance of the appeals concerning disallowance under section 14A. The Tribunal also permitted the admission of additional grounds related to credit for advance tax and TDS, providing relief to the appellant based on the evidence presented. en-us Wed, 16 Dec 2020 00:00:00 +0530 Fri, 01 Jan 2021 10:19:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402420 The Appellate Tribunal ITAT Kolkata allowed both appeals for statistical purposes. The Tribunal emphasized the requirement for specific reasons for disallowance under section 14A read with Rule 8D, upheld the rule of consistency, and directed the Assessing Officer to grant relief to the appellant in accordance with the law. The disallowance made by the AO was deemed arbitrary and mechanical, leading to the deletion of the disallowance and allowance of the appeals concerning disallowance under section 14A. The Tribunal also permitted the admission of additional grounds related to credit for advance tax and TDS, providing relief to the appellant based on the evidence presented. Case-Laws Income Tax Wed, 16 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402420