https://www.taxtmi.com/caselaws?id=466614 Computation of disallowance for expenditure attributable to exempt income under amended Rule 8D(2) governs assessment year 2017-18; the substituted sub rule (effective 02.06.2016) displaces earlier precedents and requires the Assessing Officer to apply the new formula. The AO recorded satisfaction with accounts, rejected the assessee's internal computation and suo motu disallowance, and applied the amended rule to identify relevant investments. The Tribunal found the AO's satisfaction valid, held the assessee failed to justify its working, and upheld the Commissioner (Appeals) in confirming the disallowance under the statutory scheme. en-us Wed, 26 Feb 2025 00:00:00 +0530 Fri, 13 Feb 2026 19:07:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466614 Computation of disallowance for expenditure attributable to exempt income under amended Rule 8D(2) governs assessment year 2017-18; the substituted sub rule (effective 02.06.2016) displaces earlier precedents and requires the Assessing Officer to apply the new formula. The AO recorded satisfaction with accounts, rejected the assessee's internal computation and suo motu disallowance, and applied the amended rule to identify relevant investments. The Tribunal found the AO's satisfaction valid, held the assessee failed to justify its working, and upheld the Commissioner (Appeals) in confirming the disallowance under the statutory scheme. Case-Laws Income Tax Wed, 26 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466614