https://www.taxtmi.com/caselaws?id=245658 The Tribunal set aside the disallowances made under section 14A for various assessment years, directing a reevaluation by the Assessing Officer without applying rule 8D. It was found that the application of rule 8D for pre-2008-09 assessment years was incorrect based on a High Court decision. The Tribunal agreed with the assessee's arguments regarding the exclusion of investments not generating exempt income and the nature of interest expenditure. The matter was remanded for detailed analysis of administrative expenses and proper allocation of expenditure, with the appeals partly allowed for statistical purposes. en-us Fri, 28 Mar 2014 00:00:00 +0530 Fri, 04 Apr 2014 10:39:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245658 The Tribunal set aside the disallowances made under section 14A for various assessment years, directing a reevaluation by the Assessing Officer without applying rule 8D. It was found that the application of rule 8D for pre-2008-09 assessment years was incorrect based on a High Court decision. The Tribunal agreed with the assessee's arguments regarding the exclusion of investments not generating exempt income and the nature of interest expenditure. The matter was remanded for detailed analysis of administrative expenses and proper allocation of expenditure, with the appeals partly allowed for statistical purposes. Case-Laws Income Tax Fri, 28 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245658