https://www.taxtmi.com/caselaws?id=292513 The Tribunal dismissed the assessee's appeal, upholding the addition made by the AO under section 14A read with rule 8D for the assessment year 2008-09. The Tribunal found that the AO did not need to establish the nexus of expenditure with exempt income as the assessee admitted to such expenditure. It was determined that Rule 8D was applicable due to the AO's dissatisfaction with the correctness of the assessee's claim regarding expenditure for earning exempt income. The Tribunal upheld the disallowance amount, ruling in favor of the AO and rejecting the assessee's arguments. en-us Fri, 21 Jun 2013 00:00:00 +0530 Mon, 28 Dec 2020 15:01:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292513 The Tribunal dismissed the assessee's appeal, upholding the addition made by the AO under section 14A read with rule 8D for the assessment year 2008-09. The Tribunal found that the AO did not need to establish the nexus of expenditure with exempt income as the assessee admitted to such expenditure. It was determined that Rule 8D was applicable due to the AO's dissatisfaction with the correctness of the assessee's claim regarding expenditure for earning exempt income. The Tribunal upheld the disallowance amount, ruling in favor of the AO and rejecting the assessee's arguments. Case-Laws Income Tax Fri, 21 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292513