https://www.taxtmi.com/caselaws?id=281320 The Tribunal allowed the appeal, setting aside the CIT's order under section 263. It held that the AO's assessment was not erroneous or prejudicial to revenue. Handling charges were correctly deducted from taxable income, not requiring apportionment. Rule 8D did not apply for A.Y. 2002-03 as per the Tribunal, citing it to be prospective from A.Y. 2008-09. The judgment was pronounced on August 25, 2014. en-us Mon, 25 Aug 2014 00:00:00 +0530 Fri, 14 Jun 2019 06:36:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281320 The Tribunal allowed the appeal, setting aside the CIT's order under section 263. It held that the AO's assessment was not erroneous or prejudicial to revenue. Handling charges were correctly deducted from taxable income, not requiring apportionment. Rule 8D did not apply for A.Y. 2002-03 as per the Tribunal, citing it to be prospective from A.Y. 2008-09. The judgment was pronounced on August 25, 2014. Case-Laws Income Tax Mon, 25 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281320