https://www.taxtmi.com/caselaws?id=445140 The Tribunal dismissed the Revenue's appeal, upholding the Ld. CIT(A)'s decision to delete the disallowance of Rs. 10,47,30,878/- under section 14A r.w. Rule 8D for AY 2015-16. The Tribunal found that the assessee had sufficient own funds for investments and noted that the Ld. AO failed to record satisfaction for invoking Rule 8D. The Tribunal concluded that no nexus proof was required by law, aligning with relevant precedents, and pronounced the decision on 30th October 2023. en-us Mon, 30 Oct 2023 00:00:00 +0530 Tue, 31 Oct 2023 14:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445140 The Tribunal dismissed the Revenue's appeal, upholding the Ld. CIT(A)'s decision to delete the disallowance of Rs. 10,47,30,878/- under section 14A r.w. Rule 8D for AY 2015-16. The Tribunal found that the assessee had sufficient own funds for investments and noted that the Ld. AO failed to record satisfaction for invoking Rule 8D. The Tribunal concluded that no nexus proof was required by law, aligning with relevant precedents, and pronounced the decision on 30th October 2023. Case-Laws Income Tax Mon, 30 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445140