No Satisfaction Under Section 14A, Rule 8D Disallowance Fails

Uflex Limited Vs DCIT (ITAT Delhi) No Satisfaction, No 14A— Rule 8D Can’t Be Invoked Mechanically: Disallowance Under 115JB Also Fails-  Delhi ITAT ‘E’ Bench in Uflex Ltd vs DCIT, Central Circle-2, Noida (ITA No.5157/Del/2025, AY 2016-17, order dated 24-12-2025) allowed the assessee’s appeal and deleted disallowance of ₹23.38 lakh u/s 14A, holding that in the absence of mandatory satisfaction u/s 14A(2), no disallowance can be made either under normal provisions or while computing book profit u/s 115JB. Assessee had earned exempt dividend income but claimed that no expenditure was...