2015 (5) TMI 264

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.... Assessing Officer was not satisfied with the explanation offered by the assessee that proper disclosures were made with regard to the expenditure incurred for earning income exempt under section 14A of the Income-tax Act, 1961. He, therefore, applied rule 8D, though the aforesaid rule, at the material time, had not become operative. In an appeal preferred by the assessee the appellate authorit....