https://www.taxtmi.com/caselaws?id=177160 The Tribunal held that the Assessing Officer and the Commissioner of Income Tax (Appeals) erred in applying Section 14A read with Rule 8D for the period before the notification of Rule 8D. It directed the computation of the disallowance for expenditure incurred to earn exempt income at 2% of the exempt income, following the precedent set by the Jurisdictional High Court. The assessee's appeal was partly allowed, instructing the AO to limit the disallowance to 2% of the exempt income. en-us Tue, 29 Jan 2013 00:00:00 +0530 Tue, 06 Jun 2017 15:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177160 The Tribunal held that the Assessing Officer and the Commissioner of Income Tax (Appeals) erred in applying Section 14A read with Rule 8D for the period before the notification of Rule 8D. It directed the computation of the disallowance for expenditure incurred to earn exempt income at 2% of the exempt income, following the precedent set by the Jurisdictional High Court. The assessee's appeal was partly allowed, instructing the AO to limit the disallowance to 2% of the exempt income. Case-Laws Income Tax Tue, 29 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177160