https://www.taxtmi.com/caselaws?id=332487 The Tribunal allowed the appeal for statistical purposes, directing the Assessing Officer to reevaluate the disallowance under Section 14A by considering only expenses directly related to earning exempt income for the relevant assessment year. The Tribunal emphasized that Rule 8D was not applicable for the assessment year 2007-08, ensuring that only directly related expenses were considered for disallowance and highlighting the necessity for a fresh assessment by the AO in accordance with the legal provisions. en-us Mon, 08 Aug 2016 00:00:00 +0530 Mon, 19 Sep 2016 11:15:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332487 The Tribunal allowed the appeal for statistical purposes, directing the Assessing Officer to reevaluate the disallowance under Section 14A by considering only expenses directly related to earning exempt income for the relevant assessment year. The Tribunal emphasized that Rule 8D was not applicable for the assessment year 2007-08, ensuring that only directly related expenses were considered for disallowance and highlighting the necessity for a fresh assessment by the AO in accordance with the legal provisions. Case-Laws Income Tax Mon, 08 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332487