https://www.taxtmi.com/caselaws?id=185733 The Appellate Tribunal ITAT Mumbai allowed the appeal against the disallowance made under section 14A for the assessment year 2004-2005. Relying on the judgment of the Hon'ble Bombay High Court in Godrej & Boyce Limited Vs. ACIT, the Tribunal held that the disallowance should be determined by the Assessing Officer on a 'reasonable basis,' not rule 8D. The matter was remanded to the AO for recalculating the disallowance amount in line with the High Court's decision, providing the assessee with an opportunity to present their case. The appeal was allowed for statistical purposes on December 20, 2010. en-us Mon, 20 Dec 2010 00:00:00 +0530 Wed, 24 Aug 2016 18:03:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185733 The Appellate Tribunal ITAT Mumbai allowed the appeal against the disallowance made under section 14A for the assessment year 2004-2005. Relying on the judgment of the Hon'ble Bombay High Court in Godrej & Boyce Limited Vs. ACIT, the Tribunal held that the disallowance should be determined by the Assessing Officer on a 'reasonable basis,' not rule 8D. The matter was remanded to the AO for recalculating the disallowance amount in line with the High Court's decision, providing the assessee with an opportunity to present their case. The appeal was allowed for statistical purposes on December 20, 2010. Case-Laws Income Tax Mon, 20 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185733