https://www.taxtmi.com/caselaws?id=359929 The Tribunal allowed the appeal of the assessee, holding that Rule 8D should not apply without establishing a nexus between expenses and exempted income. The Tribunal emphasized the necessity of recording satisfaction for invoking Section 14A, which the Assessing Officer failed to do. The Tribunal concluded that the AO and CIT(A) overlooked the expenses incurred by the assessee, leading to the allowance of the assessee's appeal for Assessment Year 2014-15. en-us Wed, 21 Mar 2018 00:00:00 +0530 Mon, 07 May 2018 08:24:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359929 The Tribunal allowed the appeal of the assessee, holding that Rule 8D should not apply without establishing a nexus between expenses and exempted income. The Tribunal emphasized the necessity of recording satisfaction for invoking Section 14A, which the Assessing Officer failed to do. The Tribunal concluded that the AO and CIT(A) overlooked the expenses incurred by the assessee, leading to the allowance of the assessee's appeal for Assessment Year 2014-15. Case-Laws Income Tax Wed, 21 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359929