https://www.taxtmi.com/caselaws?id=180899 The Tribunal held that Rule 8D is not retrospective and cannot be applied for the relevant assessment year. Disallowance of administrative expenses can only be made if a direct nexus is established, which was not done in this case. Therefore, the addition made by the AO and enhanced by the CIT(A) was deleted, and the appeal of the assessee was allowed. en-us Fri, 03 Jun 2011 00:00:00 +0530 Mon, 04 Apr 2016 14:20:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180899 The Tribunal held that Rule 8D is not retrospective and cannot be applied for the relevant assessment year. Disallowance of administrative expenses can only be made if a direct nexus is established, which was not done in this case. Therefore, the addition made by the AO and enhanced by the CIT(A) was deleted, and the appeal of the assessee was allowed. Case-Laws Income Tax Fri, 03 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180899