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2011 (5) TMI 489 - ITAT, KOLKATAExpenses in relation to income not forming part of total income - In view of Godrej & Boyce Mfg. Co. Ltd. v. Dy. CIT (2010 (8) TMI 77 - BOMBAY HIGH COURT) and it has been held that Rule 8D is prospective in nature, which is applicable from A.Y. 2008-09. The assessment year involved in the case of the assessee before us being 2004-05, Rule 8D, in view of above decision is not applicable to the case of the assessee.
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