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SECTION 14A OF THE INCOME-TAX ACT, 1961 – EXPENDITURE INCURRED IN RELATION TO INCOME NOT INCLUDIBLE IN TOTAL INCOME

Recording of satisfaction : Where Assessing Officer had not recorded his satisfaction as to why he was not satisfied with claim of assessee in respect of expenditure in relation to exempt income in form of dividend and long term capital gain, impugned disallowance made under section 14A by applying rule 8D was to be deleted – Principal Commissioner of Income-tax v. Tata Capital Ltd. – [2024] 161 taxmann.com 557 (Bombay)

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