AO cannot reject Section 14A disallowance made by assessee without recording his satisfaction

ACIT Vs Indiabulls Real Estate Ltd. (ITAT Delhi)

AO cannot reject suo-moto disallowance made by assessee under Section 14A of the Income Tax Act, 1961 without recording his satisfaction as required under Section 14A(2) of the Income Tax Act, 1961.

FULL TEXT OF THE ITAT JUDGEMENT

The present appeals have been filed  by  the revenue  against the orders of the ld. CIT(A)-4 , New Delhi dated  18.10.2016 & 20. 10.2016.

2. Since, the issues involved in both the appeals are common, they were heard together and are being disposed off by common

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