https://www.taxtmi.com/caselaws?id=202096 The Tribunal directed the AO to recompute the disallowance of expenditure under Section 14A for assessment years 2005-06, 2006-07, and 2007-08 in line with the decision in the case of Godrej & Boyce. The Tribunal emphasized that Rule 8D cannot be applied retrospectively and instructed the AO to use a reasonable basis and method consistent with all relevant facts. The appeals of the assessee were allowed for statistical purposes, and the matter was restored for recomputation, rejecting the plea to delete the disallowance based on precedent. en-us Wed, 12 Jan 2011 00:00:00 +0530 Wed, 12 Oct 2016 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202096 The Tribunal directed the AO to recompute the disallowance of expenditure under Section 14A for assessment years 2005-06, 2006-07, and 2007-08 in line with the decision in the case of Godrej & Boyce. The Tribunal emphasized that Rule 8D cannot be applied retrospectively and instructed the AO to use a reasonable basis and method consistent with all relevant facts. The appeals of the assessee were allowed for statistical purposes, and the matter was restored for recomputation, rejecting the plea to delete the disallowance based on precedent. Case-Laws Income Tax Wed, 12 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202096