https://www.taxtmi.com/highlights?id=30321 AO cannot mechanically apply the provisions of Rule 8D for the purpose of disallowance u/s 14A of the Act. In our opinion, the same could be used only as a last resort only in the event of the AO not able to make a fair substitution of the disallowance figure as contemplated u/s 14A(2) of the Act. - AT en-us Fri, 15 Jul 2016 11:54:18 +0530 Fri, 15 Jul 2016 11:54:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=30321 AO cannot mechanically apply the provisions of Rule 8D for the purpose of disallowance u/s 14A of the Act. In our opinion, the same could be used only as a last resort only in the event of the AO not able to make a fair substitution of the disallowance figure as contemplated u/s 14A(2) of the Act. - AT Highlights Income Tax Fri, 15 Jul 2016 11:54:18 +0530 https://www.taxtmi.com/highlights?id=30321