https://www.taxtmi.com/caselaws?id=761882 The ITAT allowed the appeal of the assessee, a company trading in agro commodities, by setting aside the Ld.CIT(A)'s order. The ITAT found merit in the claim of an error in the computation of total income and remanded the issue to the AO for verification and correction. Additionally, the ITAT directed the AO to delete the disallowance under Rule 8D(2)(ii) and reconsider the disallowance under Rule 8D(2)(iii) concerning section 14A of the Income Tax Act, after verifying the average value of investments. The AO is instructed to proceed in accordance with the law. en-us Thu, 14 Nov 2024 00:00:00 +0530 Tue, 19 Nov 2024 08:40:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761882 The ITAT allowed the appeal of the assessee, a company trading in agro commodities, by setting aside the Ld.CIT(A)'s order. The ITAT found merit in the claim of an error in the computation of total income and remanded the issue to the AO for verification and correction. Additionally, the ITAT directed the AO to delete the disallowance under Rule 8D(2)(ii) and reconsider the disallowance under Rule 8D(2)(iii) concerning section 14A of the Income Tax Act, after verifying the average value of investments. The AO is instructed to proceed in accordance with the law. Case-Laws Income Tax Thu, 14 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761882