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2021 (5) TMI 240 - ITAT MUMBAIDisallowance u/s 14A r.w. Rule 8D - HELD THAT:- Undisputedly, the assessee has no exempt income in this year. The CIT(A) has relied upon the decision of Cheminvest Ltd. Vs. ITO [2015 (9) TMI 238 - DELHI HIGH COURT] and others which has been mentioned in the order. Moreover, we noticed that the case of the assessee has duly been covered by the assessee own case for the A.Y.2011-12 by CIT(A) where there is no exempt income, there should be no disallowance u/s 14A r.w. Rule 8D of the Rule. The CIT(A) has passed the order judiciously and correctly which is not liable to be interfere with at this appellate stage. Accordingly, these issues are decided in favour of the assessee against the revenue.
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