https://www.taxtmi.com/caselaws?id=426345 Disallowance under section 14A read with Rule 8D requires the Assessing Officer to record a reasoned dissatisfaction with the assessee's claim after examining the accounts. A bare disagreement is insufficient, and the assessment basis must show why the assessee's own working is incorrect. Where the assessee maintained separate business and personal accounts and did not claim the personal expenditure as a deduction, applying Rule 8D without convincing recorded satisfaction was not justified. The disallowance was therefore directed to be deleted. en-us Thu, 11 Aug 2022 00:00:00 +0530 Fri, 12 Aug 2022 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426345 Disallowance under section 14A read with Rule 8D requires the Assessing Officer to record a reasoned dissatisfaction with the assessee's claim after examining the accounts. A bare disagreement is insufficient, and the assessment basis must show why the assessee's own working is incorrect. Where the assessee maintained separate business and personal accounts and did not claim the personal expenditure as a deduction, applying Rule 8D without convincing recorded satisfaction was not justified. The disallowance was therefore directed to be deleted. Case-Laws Income Tax Thu, 11 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426345