https://www.taxtmi.com/caselaws?id=424278 The Tribunal ruled in favor of the assessee on multiple grounds. It emphasized the requirement for the Assessing Officer (AO) to record satisfaction before disallowing expenses under Section 14A with Rule 8D. The Tribunal directed the AO to grant TDS credit in the year the income is declared and to verify and allow credit for TDS deducted but not deposited. The issue of disallowance under Section 14A impacting the computation under Section 115JB was indirectly addressed. The erroneous dismissal of the appeal based on a misunderstanding of the Vivad se Vishwas Scheme application was rectified, leading to partial allowance of the appeals. en-us Thu, 23 Jun 2022 00:00:00 +0530 Fri, 24 Jun 2022 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424278 The Tribunal ruled in favor of the assessee on multiple grounds. It emphasized the requirement for the Assessing Officer (AO) to record satisfaction before disallowing expenses under Section 14A with Rule 8D. The Tribunal directed the AO to grant TDS credit in the year the income is declared and to verify and allow credit for TDS deducted but not deposited. The issue of disallowance under Section 14A impacting the computation under Section 115JB was indirectly addressed. The erroneous dismissal of the appeal based on a misunderstanding of the Vivad se Vishwas Scheme application was rectified, leading to partial allowance of the appeals. Case-Laws Income Tax Thu, 23 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424278