2016 (7) TMI 1456

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..... AO to recompute the same on reasonable basis. This was done by following the binding decision of this Court in Godrej & Boyce Manufacturing Co., Ltd., v/s. ACIT [2010 (8) TMI 77 - BOMBAY HIGH COURT]– wherein it has been held that for the Assessment Year prior to the Assessment Year 200809, the disallowance is to be done on the reasonable basis and not by invoking Rule 8D of the Income Tax Rules 1 .....

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..... able to the year under consideration i.e. Assessment Year 200708? . 3 The impugned order of the Tribunal has restored the issued of disallowance under Section 14A) of the Act to the Assessing Officer to recompute the same on reasonable basis. This was done by following the binding decision of this Court in Godrej Boyce Manufacturing Co., Ltd., v/s. ACIT 328 ITR 81 wherein it has been h .....

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