https://www.taxtmi.com/caselaws?id=417325 The Karnataka High Court dismissed the Revenue's appeal challenging the ITAT order on the disallowance of administrative expenses under Section 14A for the assessment year 2014-15. The Court upheld the ITAT's decision, emphasizing the necessity for Assessing Officers to adhere to Rule 8D in disallowing expenses related to non-taxable income. The rectification under Section 154 was deemed unjustified as no apparent mistake existed in the assessment order. The judgment underscored the importance of statutory compliance and proper application of Section 14A and Rule 8D in such cases. en-us Mon, 25 Oct 2021 00:00:00 +0530 Mon, 22 Aug 2022 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417325 The Karnataka High Court dismissed the Revenue's appeal challenging the ITAT order on the disallowance of administrative expenses under Section 14A for the assessment year 2014-15. The Court upheld the ITAT's decision, emphasizing the necessity for Assessing Officers to adhere to Rule 8D in disallowing expenses related to non-taxable income. The rectification under Section 154 was deemed unjustified as no apparent mistake existed in the assessment order. The judgment underscored the importance of statutory compliance and proper application of Section 14A and Rule 8D in such cases. Case-Laws Income Tax Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417325