https://www.taxtmi.com/caselaws?id=763467 ITAT Mumbai held that AO failed to record requisite dissatisfaction under Section 14A(2) before invoking Rule 8D provisions. Appellant had made suo-moto disallowance under Section 14A with proper computation and basis during assessment proceedings. AO's dissatisfaction regarding correctness of voluntary disallowance was insufficient to invoke Rule 8D. Additional disallowance made by AO under Section 14A read with Rule 8D could not be sustained and was deleted. Decision favored assessee. en-us Mon, 30 Sep 2024 00:00:00 +0530 Fri, 20 Dec 2024 08:46:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763467 ITAT Mumbai held that AO failed to record requisite dissatisfaction under Section 14A(2) before invoking Rule 8D provisions. Appellant had made suo-moto disallowance under Section 14A with proper computation and basis during assessment proceedings. AO's dissatisfaction regarding correctness of voluntary disallowance was insufficient to invoke Rule 8D. Additional disallowance made by AO under Section 14A read with Rule 8D could not be sustained and was deleted. Decision favored assessee. Case-Laws Income Tax Mon, 30 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763467