https://www.taxtmi.com/caselaws?id=411105 The Tribunal held that the Assessing Officer's disallowance under Section 14A read with Rule 8D was invalid as no dissatisfaction was recorded with the assessee's claim, following precedents mandating such recording. The Tribunal set aside the disallowance and allowed the assessee's appeal, noting the inappropriate disallowance of interest and administrative expenditures, incorrect inclusion of investments in Gold Bar, and investments not generating exempt income for calculating average value. Other contentions were left open as the primary jurisdictional issue was resolved in favor of the assessee. en-us Mon, 26 Jul 2021 00:00:00 +0530 Wed, 18 Aug 2021 09:26:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411105 The Tribunal held that the Assessing Officer's disallowance under Section 14A read with Rule 8D was invalid as no dissatisfaction was recorded with the assessee's claim, following precedents mandating such recording. The Tribunal set aside the disallowance and allowed the assessee's appeal, noting the inappropriate disallowance of interest and administrative expenditures, incorrect inclusion of investments in Gold Bar, and investments not generating exempt income for calculating average value. Other contentions were left open as the primary jurisdictional issue was resolved in favor of the assessee. Case-Laws Income Tax Mon, 26 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411105