https://www.taxtmi.com/caselaws?id=383798 The Tribunal partially allowed the appeal regarding disallowance of administrative expenses attributable to exempt income. It held that the Assessing Officer (AO) cannot mechanically apply Rule 8D(2)(iii) without examining the merits and reduced the disallowance amount. Additionally, the Tribunal partially allowed the appeal on the adjustment under s. 14A while computing book profits under s. 115JB, directing an adjustment in line with the disallowance sustained under normal provisions. en-us Mon, 29 Jul 2019 00:00:00 +0530 Wed, 31 Jul 2019 04:34:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383798 The Tribunal partially allowed the appeal regarding disallowance of administrative expenses attributable to exempt income. It held that the Assessing Officer (AO) cannot mechanically apply Rule 8D(2)(iii) without examining the merits and reduced the disallowance amount. Additionally, the Tribunal partially allowed the appeal on the adjustment under s. 14A while computing book profits under s. 115JB, directing an adjustment in line with the disallowance sustained under normal provisions. Case-Laws Income Tax Mon, 29 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383798