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2017 (5) TMI 1603 - ITAT MUMBAIDisallowance u/s 14A - Held that:- the provisions of section 14A of I.T. Act, 1961 would no apply if not exempted income was received during the relevant previous year - since in the present case no exempt income has been received, therefore provisions of section 14A cannot be invoked by AO - Decided in favor of assessee.
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