https://www.taxtmi.com/caselaws?id=410540 The appeals challenging disallowance under section 14A for AY 2015-16 and 2016-17 were partly allowed by the Tribunal. The additional disallowances made by the Assessing Officer were deleted as the AO failed to establish a connection between expenditure and exempt income before applying Rule 8D. The Tribunal emphasized the necessity of the AO's satisfaction before applying Rule 8D and upheld the appellant's contentions. The judgments were pronounced by the ITAT Mumbai on 2nd August 2021. en-us Mon, 02 Aug 2021 00:00:00 +0530 Wed, 04 Aug 2021 08:35:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410540 The appeals challenging disallowance under section 14A for AY 2015-16 and 2016-17 were partly allowed by the Tribunal. The additional disallowances made by the Assessing Officer were deleted as the AO failed to establish a connection between expenditure and exempt income before applying Rule 8D. The Tribunal emphasized the necessity of the AO's satisfaction before applying Rule 8D and upheld the appellant's contentions. The judgments were pronounced by the ITAT Mumbai on 2nd August 2021. Case-Laws Income Tax Mon, 02 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410540