https://www.taxtmi.com/caselaws?id=756836 The ITAT Delhi held in favor of the assessee regarding disallowance u/s 14A r.w.r. 8D, ruling that the AO failed to record objective satisfaction before rejecting the assessee's suo moto disallowance. The tribunal directed acceptance of the assessee's disallowance and clarified that only investments not yielding exempt income should be considered. On section 80G deduction for donations, the tribunal ruled against revenue, upholding CIT(A)'s order allowing deductions except for CSR contributions to specific funds under Companies Act 2013, which don't qualify under section 80G(2)(a). en-us Tue, 06 Aug 2024 00:00:00 +0530 Fri, 09 Aug 2024 13:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756836 The ITAT Delhi held in favor of the assessee regarding disallowance u/s 14A r.w.r. 8D, ruling that the AO failed to record objective satisfaction before rejecting the assessee's suo moto disallowance. The tribunal directed acceptance of the assessee's disallowance and clarified that only investments not yielding exempt income should be considered. On section 80G deduction for donations, the tribunal ruled against revenue, upholding CIT(A)'s order allowing deductions except for CSR contributions to specific funds under Companies Act 2013, which don't qualify under section 80G(2)(a). Case-Laws Income Tax Tue, 06 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756836