https://www.taxtmi.com/caselaws?id=247770 The appeal was allowed for statistical purposes, and the matter was remanded back to the Assessing Officer for a fresh consideration in accordance with Rule 8D and the provisions of section 14A(2) read with section 14A(3) of the Income Tax Act. The Tribunal criticized the Revenue for mechanically applying Rule 8D without considering the specifics of the case, emphasizing that both direct and indirect expenditures related to earning exempt income should be disallowed. The order was pronounced on May 12, 2014. en-us Mon, 12 May 2014 00:00:00 +0530 Thu, 22 May 2014 08:41:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247770 The appeal was allowed for statistical purposes, and the matter was remanded back to the Assessing Officer for a fresh consideration in accordance with Rule 8D and the provisions of section 14A(2) read with section 14A(3) of the Income Tax Act. The Tribunal criticized the Revenue for mechanically applying Rule 8D without considering the specifics of the case, emphasizing that both direct and indirect expenditures related to earning exempt income should be disallowed. The order was pronounced on May 12, 2014. Case-Laws Income Tax Mon, 12 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247770