AO Must Record Proper Satisfaction Regarding Incorrectness of Taxpayer’s claim before Invoking Income Tax Rule 8D: ITAT [Read Order]

In a dispute over disallowance under section 14A, the ITAT directs AO to record the dissatisfaction properly before invoking IT Rule 8D.
By Kavi Priya - On August 16, 2024 11:59 am - 2 mins read
ITAT - AO - Income Tax - Income Tax Rule - Assessing Officer - Income Tax Appellate Tribunal - taxpayer - taxpayer's claim - taxscan

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) emphasized that the Assessing Officer (AO) must properly record satisfaction regarding the incorrectness of the taxpayer’s claim before invoking Income Tax Rule 8D. LA Renon Healthcare Pvt. Ltd., the assesse-appellant filed its income tax return for the assessment year 2016-17, declaring a total…

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