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2012 (7) TMI 63 - ITAT, CHENNAIDisallowance of expenditure u/s 14A r.w.r. 8D - expenditure in relation to dividend income - assessee contested that Rule 8D could not be adopted for allocation of expenditure as no expenditure had been incurred for earning dividend income - Held that:- There is no dispute that Section 14A and Rule 8D were applicable to the assessee for the impugned assessment year 2008- 09 - Assessee had itself made a computation of disallowance that could be made under Rule 8D and after giving a computation of possible disallowance which, inter-alia, included the interest outgoes also, assessee cannot now turn around and say that such a computation was incorrect - though the statement was given by the assessee at the insistence of the A.O. and if if interest or any other expenses was not relatable to the exempt income, assessee by itself would have excluded such amounts from the said computation - An assessee cannot be allowed to approbate or reprobate according to its choice - against assessee.
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