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2018 (9) TMI 1896 - ITAT AHMEDABADDisallowance u/s 14A r.w. Rule 8D - HELD THAT:- The issue is squarely covered by the Hon’ble jurisdictional High Court’s judgment in the case of CIT Vs Corrtech Energy Pvt Ltd . [2014 (3) TMI 856 - GUJARAT HIGH COURT] inasmuch as the disallowance u/s 14A cannot exceed the exempt income. This is precisely what the CIT(A) has held. In view of the matter and in view of the decision of the learned CIT(A) which is clearly in accordance with the law laid down by the Hon’ble jurisdictional High Court (supra), we see no reasons to interfere in the matter. Disallowance of deduction u/s 80-IB(10) - assessee has received towards charges collected from the customers for AEC, AUDA, legal charges etc.- AO was of the view that these receipts are not eligible for being included in the profits eligible for deduction u/s 80-IB(10) - HELD THAT:- Whatever details have been given by the assessee with regard to AUDA charges, electricity connection charges and legal charges etc., nowhere these facts have been verified by the lower authorities and the computation of Asmakam project has not been elaborately discussed by the lower authorities. Therefore, we are of the considered view that this matter needs further examination; therefore, we remit this issue back to the file of the Assessing Officer for examination afresh and call for all details pertaining to Asmakam project and thereafter will decide the matter on merits.
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