https://www.taxtmi.com/caselaws?id=204269 The Tribunal directed the Assessing Officer (AO) to recompute the disallowance of expenditure under Section 14A for the assessment years in question in accordance with the decision of the Bombay High Court. The AO was instructed to adopt a reasonable basis and method consistent with all relevant facts and circumstances, providing the assessee with an opportunity to present material. The Tribunal also noted the precedence of restoring similar matters for recomputation, leading to the restoration of the case to the AO for further assessment, allowing all appeals of the assessee for statistical purposes. en-us Fri, 31 Dec 2010 00:00:00 +0530 Mon, 11 Jul 2011 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204269 The Tribunal directed the Assessing Officer (AO) to recompute the disallowance of expenditure under Section 14A for the assessment years in question in accordance with the decision of the Bombay High Court. The AO was instructed to adopt a reasonable basis and method consistent with all relevant facts and circumstances, providing the assessee with an opportunity to present material. The Tribunal also noted the precedence of restoring similar matters for recomputation, leading to the restoration of the case to the AO for further assessment, allowing all appeals of the assessee for statistical purposes. Case-Laws Income Tax Fri, 31 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204269