https://www.taxtmi.com/caselaws?id=216659 ITAT Delhi ruled that Rule 8D of Income Tax Rules, introduced via Notification No.45/2008 dated 24.03.2008, operates prospectively and applies only from assessment year 2008-09 onwards, not retrospectively. Following precedents from Delhi HC and Bombay HC, the tribunal held that while Section 14A has retrospective effect from 01.04.1962, Rule 8D cannot be applied retrospectively. The CIT(A) and AO's orders were deemed perverse due to misinterpretation of provisions. Case remanded to AO for fresh consideration. en-us Mon, 02 Jul 2012 00:00:00 +0530 Sat, 05 Jul 2025 12:18:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216659 ITAT Delhi ruled that Rule 8D of Income Tax Rules, introduced via Notification No.45/2008 dated 24.03.2008, operates prospectively and applies only from assessment year 2008-09 onwards, not retrospectively. Following precedents from Delhi HC and Bombay HC, the tribunal held that while Section 14A has retrospective effect from 01.04.1962, Rule 8D cannot be applied retrospectively. The CIT(A) and AO's orders were deemed perverse due to misinterpretation of provisions. Case remanded to AO for fresh consideration. Case-Laws Income Tax Mon, 02 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216659