https://www.taxtmi.com/caselaws?id=253442 The Appellate Tribunal set aside the Commissioner of Income Tax (Appeals) decision to uphold the disallowance of expenses related to exempt income under section 14A by applying Rule 8D. The matter was remanded to the Assessing Officer for reconsideration in light of a Bombay High Court decision. The Tribunal directed a fresh adjudication of the disallowance based on the new legal precedent, emphasizing the importance of recent legal judgments in tax matters for a fair assessment. en-us Fri, 17 Oct 2014 00:00:00 +0530 Tue, 25 Nov 2014 06:45:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253442 The Appellate Tribunal set aside the Commissioner of Income Tax (Appeals) decision to uphold the disallowance of expenses related to exempt income under section 14A by applying Rule 8D. The matter was remanded to the Assessing Officer for reconsideration in light of a Bombay High Court decision. The Tribunal directed a fresh adjudication of the disallowance based on the new legal precedent, emphasizing the importance of recent legal judgments in tax matters for a fair assessment. Case-Laws Income Tax Fri, 17 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253442