https://www.taxtmi.com/caselaws?id=215802 The Tribunal upheld the disallowance of deduction under Section 10A of the Income Tax Act, 1961, based on turnover ratio allocation of common expenses. Additionally, the Tribunal affirmed the computation of expenses under Section 14A, ruling that Rule 8D was prospective and should be applied from the assessment year 2008-09, with prior years' expenses related to exempt income to be reasonably determined after providing a hearing opportunity. The Tribunal dismissed the appeal, supporting the decisions of the lower authorities regarding both issues. en-us Fri, 29 Jun 2012 00:00:00 +0530 Sat, 18 Aug 2012 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215802 The Tribunal upheld the disallowance of deduction under Section 10A of the Income Tax Act, 1961, based on turnover ratio allocation of common expenses. Additionally, the Tribunal affirmed the computation of expenses under Section 14A, ruling that Rule 8D was prospective and should be applied from the assessment year 2008-09, with prior years' expenses related to exempt income to be reasonably determined after providing a hearing opportunity. The Tribunal dismissed the appeal, supporting the decisions of the lower authorities regarding both issues. Case-Laws Income Tax Fri, 29 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215802