https://www.taxtmi.com/caselaws?id=431756 The Tribunal allowed the appeal, directing the AO to delete the additional disallowance made under Rule 8D while computing both normal income and book profits u/s 115JB. The Tribunal held that the AO's mechanical application of Rule 8D without establishing a nexus between expenditure and exempt income rendered the disallowance unsustainable in law. The appeal was allowed based on these findings. en-us Tue, 06 Dec 2022 00:00:00 +0530 Wed, 21 Dec 2022 09:18:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431756 The Tribunal allowed the appeal, directing the AO to delete the additional disallowance made under Rule 8D while computing both normal income and book profits u/s 115JB. The Tribunal held that the AO's mechanical application of Rule 8D without establishing a nexus between expenditure and exempt income rendered the disallowance unsustainable in law. The appeal was allowed based on these findings. Case-Laws Income Tax Tue, 06 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431756