https://www.taxtmi.com/caselaws?id=274368 Disallowance under section 14A was held to be warranted in appropriate cases, but the quantum must be determined on a reasonable basis. Rule 8D was held to be prospective and therefore not applicable to the assessment year in question. The disallowance was not deleted; instead, the matter was remanded to the Assessing Officer to recompute the section 14A disallowance afresh without applying Rule 8D. en-us Wed, 19 Jan 2011 00:00:00 +0530 Fri, 10 Aug 2018 11:16:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274368 Disallowance under section 14A was held to be warranted in appropriate cases, but the quantum must be determined on a reasonable basis. Rule 8D was held to be prospective and therefore not applicable to the assessment year in question. The disallowance was not deleted; instead, the matter was remanded to the Assessing Officer to recompute the section 14A disallowance afresh without applying Rule 8D. Case-Laws Income Tax Wed, 19 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274368