https://www.taxtmi.com/caselaws?id=176980 The Tribunal ruled in favor of the appellant, emphasizing the importance of assessing the nature of expenses related to exempt income before applying rule 8D. The judgment highlighted that rule 8D is not mandatory for every 14A case and must be applied judiciously after verifying the expenditure's relevance to earning exempt income. The Tribunal found the appellant's offered disallowance reasonable and allowed the appeal, emphasizing the necessity for the AO to follow due procedure in such cases. en-us Fri, 20 Mar 2015 00:00:00 +0530 Fri, 01 Jan 2016 10:51:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176980 The Tribunal ruled in favor of the appellant, emphasizing the importance of assessing the nature of expenses related to exempt income before applying rule 8D. The judgment highlighted that rule 8D is not mandatory for every 14A case and must be applied judiciously after verifying the expenditure's relevance to earning exempt income. The Tribunal found the appellant's offered disallowance reasonable and allowed the appeal, emphasizing the necessity for the AO to follow due procedure in such cases. Case-Laws Income Tax Fri, 20 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176980