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2019 (6) TMI 711 - BOMBAY HIGH COURTDisallowance u/s 14A - ITAT confirming the Order of the CIT (A) wherein restricting the disallowance on the ground that during period under consideration, the Respondent - Assessee had not earned any exempt income - HELD THAT:- This being the position, we do not find any error in the impugned Order passed by the Tribunal. Several High Courts have taken a view that where the assessee had earned exempt income, disallowance of expenditure under Rule 8D of the Income Tax Rules, 1962, would not be permissible. - Decided against revenue
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