Rule 8D cannot be invoked and applied unless the Assessing Officer records his dissatisfaction regarding correctness of the claim made by the assessee in relation to expenditure incurred to earn exempt income
Rejection of refund without considering assessee|s reply and also without affording an opportunity of personal hearing was in violation of the principles of natural justice.
Cbic issued four circulars for clarification on certain issues, denial of composition option by authorities, export of services, various refund related issues.
Order directing special audit validated BY Delhi High Court as it has outlined salient aspects in accounts and returns of assessee
