https://www.taxtmi.com/caselaws?id=261317 The Revenue's appeal was allowed for statistical purposes, emphasizing the mandatory nature of determining expenditure under Section 14A and Rule 8D as per the prescribed method. The Tribunal held that an ad hoc estimation of 10% was not in line with the statutory provisions, and the Assessing Officer must determine the expenditure using the method specified in Rule 8D(2). The lower authorities' orders were set aside, and the issue was remitted back to the Assessing Officer to determine the expenditure in accordance with Rule 8D(2) after providing a reasonable opportunity to the assessee. en-us Fri, 26 Jun 2015 00:00:00 +0530 Mon, 06 Jul 2015 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261317 The Revenue's appeal was allowed for statistical purposes, emphasizing the mandatory nature of determining expenditure under Section 14A and Rule 8D as per the prescribed method. The Tribunal held that an ad hoc estimation of 10% was not in line with the statutory provisions, and the Assessing Officer must determine the expenditure using the method specified in Rule 8D(2). The lower authorities' orders were set aside, and the issue was remitted back to the Assessing Officer to determine the expenditure in accordance with Rule 8D(2) after providing a reasonable opportunity to the assessee. Case-Laws Income Tax Fri, 26 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261317