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2013 (11) TMI 1588 - AT - Income TaxDisallowance of interest by invoking the provisions of Section 14A - Held that:- We are of the considered opinion that when the interest income was more than the interest expenditure then the AO was not justified to invoke the provisions of Section 14A read with Rule 8D of IT Act. We hereby reverse the findings of the authorities below and direct to delete the disallowance. Facts being identical for A.Y. 2010-11 in solido applies. As far as the question of disallowance of administrative expense is concerned, although learned AR has raised this question, but no such ground has been raised before us as per the grounds of appeal. There was some mention in the statement of facts but in a situation when no specific ground as per grounds of appeal has been raised before us, therefore, we are not empowered to adjudicate an issue which has not been properly raised before us as per law. This part of the plea is, therefore, rejected.
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