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2014 (2) TMI 1149 - AT - Income TaxDisallowance u/s 14A read with rule 8D - Held tha:- Court observe movement in the investment-which is stated to be in mutual funds, portfolio, so that there has been acquisition as well as disposal of investments during the year. In fact, even as stated by the Tribunal per its said order, the decision-making in its respect (investment) is located at the higher echelons of the management, and which would only be upon expending time and resources. The assessee has clearly not discharged the said initial onus in the instant case, so that the Revenue could not be faulted with for applying rule 8D, which in fact stands applied by the assessee as well, albeit in part - authorised representative, though factually not incorrect while stating before us that the matter stands remitted by the Tribunal back to the file of the Assessing Officer for that year, has in fact, we are afraid to say, mis-represented the facts, inasmuch as the said restoration was only for the limited purpose of working the correct amount of disallowance under rule 8D, observing a difference in the said working (refer paragraph 6.3 of its order). No such conflict or uncertainty inflicts the amount per rule 8D(2)(iii) for the current year, its working at the impugned amount of ₹ 1,29,783 having been furnished by the assessee itself. - Disallowance confirmed - Decided against assessee.
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