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2014 (11) TMI 1158 - ITAT MUMBAIDisallowance u/s 14A read with rule 8D - computation of claim - Held that:- As consistent with the view taken by the Tribunal in the earlier year, we also order accordingly. Thus, AO is directed that, so far as the disallowance of interest is concerned in the working of rule 8D, no addition/disallowance should be made. As regards the disallowance on account of indirect expenses, by adopting 0.5% of the average investment, we confirm the disallowance as worked out in accordance with the rule 8D. Lastly, with regard to the disallowance on account of amount invested in share capital of partnership firm, we direct the AO to follow the earlier order of the Tribunal in A.Y. 2008-09 and work out the disallowance. Accordingly ground raised by the assessee is treated as partly allowed.
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