AO not recorded satisfaction- Section 14A disallowance invalid

Hindustan Aeronautics Limited Vs ACIT (Karnataka High Court)

So far as the claim of the assessee under Section 14A of the Act is concerned, sub-Section (2) and (3) of Section 14A of the Act read with Rule 8D of the Rules prescribe a formula for determination of expenditure incurred in relation to income, which does not form part of the total income under the Act in a situation where the Assessing Officer is not satisfied with the claim of the assessee. The sine qua non for invocation of power under Section 14A of the Act rea

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