https://www.taxtmi.com/caselaws?id=427653 The Tribunal upheld the Assessing Officer's disallowance of Rs. 5,71,485 under Section 14A read with Rule 8D of the Income Tax Act for the assessment year 2017-18. The Tribunal rejected the assessee's argument that no expenditure was incurred to earn exempt income, emphasizing that the AO had properly exercised his discretion and followed the provisions of Rule 8D(2)(ii). The appeal was dismissed, affirming the disallowance. en-us Fri, 09 Sep 2022 00:00:00 +0530 Wed, 14 Sep 2022 09:23:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427653 The Tribunal upheld the Assessing Officer's disallowance of Rs. 5,71,485 under Section 14A read with Rule 8D of the Income Tax Act for the assessment year 2017-18. The Tribunal rejected the assessee's argument that no expenditure was incurred to earn exempt income, emphasizing that the AO had properly exercised his discretion and followed the provisions of Rule 8D(2)(ii). The appeal was dismissed, affirming the disallowance. Case-Laws Income Tax Fri, 09 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427653