https://www.taxtmi.com/caselaws?id=281969 The appeal filed by the assessee was allowed for statistical purposes. The Assessing Officer (AO) was directed to recompute the disallowance of expenses in accordance with Rule 8D and judicial precedents, emphasizing the requirement for the AO to demonstrate dissatisfaction with the assessee's computation before applying the prescribed formula. The Income Tax Appellate Tribunal (ITAT) set aside the order of the Commissioner of Income Tax (Appeals) and emphasized the importance of assessing the correctness of the assessee's claim regarding expenses related to exempt income. en-us Thu, 29 Nov 2012 00:00:00 +0530 Mon, 15 Jul 2019 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281969 The appeal filed by the assessee was allowed for statistical purposes. The Assessing Officer (AO) was directed to recompute the disallowance of expenses in accordance with Rule 8D and judicial precedents, emphasizing the requirement for the AO to demonstrate dissatisfaction with the assessee's computation before applying the prescribed formula. The Income Tax Appellate Tribunal (ITAT) set aside the order of the Commissioner of Income Tax (Appeals) and emphasized the importance of assessing the correctness of the assessee's claim regarding expenses related to exempt income. Case-Laws Income Tax Thu, 29 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281969