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2014 (2) TMI 1245 - HC - Income TaxDisallowance u/s 14A r.w.r 8D - Whether Tribunal was right in law in not deciding the matter and instead sending the matter back to the Assessing Officer for fresh decision? - Held that:- Rule 8D formula could not be applied to the case which arose prior to the introduction of said rule. Nevertheless and more so, therefore, a need would arise to ascertain the disallowance of expenditure, if any, and if so, to what extent be made for the assessee to earn tax exempt income. Since this exercise was not done previously, the Tribunal was within its right to require the Assessing Officer to do so. It is true that in a given case the Tribunal could also either on the basis of the materials already on record or when need be, after calling remand report, itself undertakes such an exercise within the parameters of law. Nevertheless, even in the facts of the case, the Tribunal found it more appropriate and convenient to require the Assessing Officer to do so. - Decided against assessee
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