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2015 (1) TMI 1289 - AT - Income TaxDisallowance u/s 14A - exclusion of investment made in the companies which are strategic in nature - Held that:- In the case of Interglobe Enterprises Ltd. vs. DCIT [2014 (4) TMI 269 - ITAT DELHI ] held that the calculation of disallowance under Rule 8D(iii) made by the Assessing Officer and upheld by the ld. CIT(A) is not correct in view of the fact that Assessing Officer had included the value of total investments for calculation of disallowance whereas in our opinion the value of those investments should have been included which were made for the purpose of earning exempt income. The assessee had made significant investments in the shares of subsidiary companies which are definitely not for the purpose of earning exempt income Since this aspect of strategic investment has not examined by lower authorities, we restore the matter for both the assessment years back to the file of the A.O. for recomputing afresh the disallowances made u/s 14 A read with Rule 8-D. - Decided in favour of assessee for statistical purpose.
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