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2014 (1) TMI 1627 - ITAT DELHIPenalty u/s 271(1)(c) - assessee company suo moto disallowed u/s 14A - Assessing Officer held that the assessee has tried to retrieve the situation but the claim does not appear to be bonafide - Held that:- assessee himself disallowed some amount of interest u/s 14A of the Act. Rule 8D was made applicable for the Assessment Year 2008-09. This was the first year of applicability of Rule 8D. The CIT (A) has deleted the addition relying on the decision of Hon'ble Delhi High Court in the case of CIT vs. Nalwa Sons Investments Ltd. – [2010 (8) TMI 40 - DELHI HIGH COURT] - no merits in the appeal of the revenue - Decided against Revenue.
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