{"id":10169,"date":"2020-03-01T08:25:51","date_gmt":"2020-03-01T08:25:51","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-bombay-stock-exchange-ltd-2020-185-dtr-390-bom-hc\/"},"modified":"2021-11-06T15:54:02","modified_gmt":"2021-11-06T10:24:02","slug":"pcit-v-bombay-stock-exchange-ltd-2020-185-dtr-390-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-bombay-stock-exchange-ltd-2020-185-dtr-390-bom-hc\/","title":{"rendered":"PCIT v. Bombay Stock Exchange Ltd ( 2020) 185 DTR 390  \/113 taxmann.com 303  ( Bom) (HC) Editorial :  Notice issued  in SLP filed by revenue ,  PCIT v. Bombay Stock Exchange Ltd ( 2021 ) 281 Taxman 365 ( SC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that, \u00a0non-satisfaction with the disallowance offered by the assessee has to be arrived at on the basis of the accounts submitted by the assessee. \u00a0\u00a0The AO needs to record his non-satisfaction having regard to the sou motu disallowances claimed by the assessee in the context of its accounts. It is only thereafter, the occasion to apply rule 8D of the Rules for apportionment of expenses can arise. \u00a0AO discussing and not accepting is not sufficient<b> . <\/b>\u00a0Followed Maxopp Investment Ltd. v CIT (2018) 402 ITR 640 \u00a0\u00a0(SC) \u00a0, Godrej &amp; Boycee Mfg Co Ltd v CIT ( 2018) 328 ITR 81 (Bom) (HC) \u00a0(ITA No 1017 of 2017 dt 15 -10 -2019 )( AY.2008 -09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 14A : Disallowance of expenditure &#8211; Exempt income &#8211;  Recording of satisfaction \u2013 AO  needs to record his non-satisfaction having regard to the sou motu disallowances claimed by the assessee in the context of its accounts. It is only thereafter, the occasion to apply rule 8D of the Rules for apportionment of expenses can arise- AO discussing and not accepting is not sufficient -Order of Tribunal is affirmed .  [S.14A(2) , R.8D ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10169","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2E1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=10169"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10169\/revisions"}],"predecessor-version":[{"id":22467,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10169\/revisions\/22467"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=10169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=10169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=10169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}