https://www.taxtmi.com/caselaws?id=765763 The Gujarat HC allowed petitions challenging revision proceedings under Section 263. The CIT had initiated revision claiming the Assessment Order was passed without proper inquiries regarding disallowance under Section 14A read with Rule 8D. The court found that during regular assessment under Section 143(3), the AO had raised queries about Section 14A disallowance, the assessee provided required details and explanations, and the AO accepted the reply without making any disallowance. The court held the AO was not required to record reasons for not making disallowance, and the revision proceedings were unsustainable. en-us Tue, 28 Jan 2025 00:00:00 +0530 Thu, 20 Mar 2025 17:25:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765763 The Gujarat HC allowed petitions challenging revision proceedings under Section 263. The CIT had initiated revision claiming the Assessment Order was passed without proper inquiries regarding disallowance under Section 14A read with Rule 8D. The court found that during regular assessment under Section 143(3), the AO had raised queries about Section 14A disallowance, the assessee provided required details and explanations, and the AO accepted the reply without making any disallowance. The court held the AO was not required to record reasons for not making disallowance, and the revision proceedings were unsustainable. Case-Laws Income Tax Tue, 28 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765763