https://www.taxtmi.com/caselaws?id=182579 The Tribunal allowed the appeal for statistical purposes, remitting the issue to the Assessing Officer to quantify a reasonable disallowance amount under section 14A for the assessment year 2006-07. The Tribunal held that Rule 8D is not applicable for that year based on the Bombay High Court decision in Godrej Boyce Mfg. Co. Ltd. vs. DCIT, overruling the application of Rule 8D as per the ITAT Special Bench decision in Daga Capital. The assessee is to be given a fair opportunity to present their case. en-us Thu, 23 Dec 2010 00:00:00 +0530 Fri, 13 May 2016 15:20:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182579 The Tribunal allowed the appeal for statistical purposes, remitting the issue to the Assessing Officer to quantify a reasonable disallowance amount under section 14A for the assessment year 2006-07. The Tribunal held that Rule 8D is not applicable for that year based on the Bombay High Court decision in Godrej Boyce Mfg. Co. Ltd. vs. DCIT, overruling the application of Rule 8D as per the ITAT Special Bench decision in Daga Capital. The assessee is to be given a fair opportunity to present their case. Case-Laws Income Tax Thu, 23 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182579