High Court Orders Reassessment of Tax Expenditure Disallowance u/s 14A, Citing Need for Fresh Evaluation. https://www.taxtmi.com/highlights?id=75556 Disallowance u/s 14A - disallowance of administrative expenditure to arrive at average total asset for computing disallowance as per formula prescribed by Rule 8D on the opening and closing of gross block of fixed assets - Validity of order of ITAT remanding the matter to the AO for proper verification and adjudication - The High Court acknowledged previous decisions and directed the matter to be remanded to the Tribunal for fresh consideration regarding the disputed grounds. en-us Sat, 09 Mar 2024 13:49:52 +0530 Sat, 09 Mar 2024 13:49:52 +0530 TaxTMI RSS Generator High Court Orders Reassessment of Tax Expenditure Disallowance u/s 14A, Citing Need for Fresh Evaluation. https://www.taxtmi.com/highlights?id=75556 Disallowance u/s 14A - disallowance of administrative expenditure to arrive at average total asset for computing disallowance as per formula prescribed by Rule 8D on the opening and closing of gross block of fixed assets - Validity of order of ITAT remanding the matter to the AO for proper verification and adjudication - The High Court acknowledged previous decisions and directed the matter to be remanded to the Tribunal for fresh consideration regarding the disputed grounds. Highlights Income Tax Sat, 09 Mar 2024 13:49:52 +0530 https://www.taxtmi.com/highlights?id=75556