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2014 (3) TMI 928 - AT - Income TaxDeleting of dis-allowance u/s.14A of the Act r.w. Rule 8D Held that:- The decision in Godrej & Boyce Mfg. Co. Ltd v. DCIT [2010 (8) TMI 77 - BOMBAY HIGH COURT] followed - Rule 8D is applicable from assessment year 2008-09 it cannot now turn around and say that no expenditure whatsoever was incurred for earning the exempt income thus, the matter is remitted back to the AO for fresh adjudication Decided in favour of Revenue. Deletion of dis-allowance u/s 40a(i) of the Act - Overseas payments of professional and consultancy charges TDS not deducted - The decision in CIT Vs. M/s. Vector Shipping Services (P) Ltd. [2013 (7) TMI 622 - ALLAHABAD HIGH COURT] followed - the provisions of section 40a(i) do not apply to those amounts which have already been paid by the assessee before the close of the relevant previous year thus, the dis-allowance u/s.40a(i) applies only to the amounts payable and not to those amounts which are already paid Decided against Revenue.
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