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Whether the disallowance is rightly made u/s 14A by applying rule 8D prior to the amendment?
Case Law Details
- Case Name
- Gujarat Organics Ltd. Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2000- 01
- Courts
- All ITAT, ITAT Mumbai
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Gujarat Organics Ltd. Vs ACIT (ITAT Mumbai)- The provisions of Rule 8D of the Income Tax Rules which have been notified with effect from 24 March 2008 shall apply with effect from Assessment Year 2008- 09. Even prior to Assessment Year 2008- 09, when Rule 8D was not applicable, the Assessing Officer has to enforce the provisions of sub section (1) of Section 14A.
For that purpose, the Assessing Officer is duty bound to determine the expenditure which has been incurred in relation to income which does not form part of the total income under the Act. The Assessing Officer must adopt a reasonabl...
