https://www.taxtmi.com/caselaws?id=752104 ITAT Delhi ruled in favor of the assessee regarding disallowance under section 14A read with Rule 8D. The tribunal found that the AO failed to properly record satisfaction for rejecting the assessee's suo moto disallowance, making any further disallowance unsustainable. Following precedent from Vireet Investments, the tribunal held that disallowance under Rule 8D cannot be made while computing book profits under section 115JB. The revenue's appeal was rejected, and the assessee's grounds were allowed. en-us Tue, 30 Apr 2024 00:00:00 +0530 Fri, 03 May 2024 07:11:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752104 ITAT Delhi ruled in favor of the assessee regarding disallowance under section 14A read with Rule 8D. The tribunal found that the AO failed to properly record satisfaction for rejecting the assessee's suo moto disallowance, making any further disallowance unsustainable. Following precedent from Vireet Investments, the tribunal held that disallowance under Rule 8D cannot be made while computing book profits under section 115JB. The revenue's appeal was rejected, and the assessee's grounds were allowed. Case-Laws Income Tax Tue, 30 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752104