https://www.taxtmi.com/caselaws?id=394756 The Tribunal allowed the appeal of the assessee, quashing the Principal Commissioner of Income Tax's order passed under section 263 of the Income-tax Act. The Tribunal found that the Assessing Officer's decision not to disallow any expenses, including interest expenditure for earning exempt income, was valid as the appellant had not claimed any interest expenditure for earning exempt income, and the conditions for invoking Rule 8D were not met. The Tribunal concluded that the Principal Commissioner lacked jurisdiction to interfere with the assessment order, ruling in favor of the assessee on 18-03-2020. en-us Wed, 18 Mar 2020 00:00:00 +0530 Thu, 23 Apr 2020 11:25:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394756 The Tribunal allowed the appeal of the assessee, quashing the Principal Commissioner of Income Tax's order passed under section 263 of the Income-tax Act. The Tribunal found that the Assessing Officer's decision not to disallow any expenses, including interest expenditure for earning exempt income, was valid as the appellant had not claimed any interest expenditure for earning exempt income, and the conditions for invoking Rule 8D were not met. The Tribunal concluded that the Principal Commissioner lacked jurisdiction to interfere with the assessment order, ruling in favor of the assessee on 18-03-2020. Case-Laws Income Tax Wed, 18 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394756