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2014 (2) TMI 1264 - AT - Income TaxDisallowance made by the AO u/s.14A r.w.8D - Held that:- As the assessee had more funds at its disposal, in form of share capital and reserves, than the investment made during the year. Therefore, respectfully, following the orders of the Tribunal, for the earlier years, we confirm the order of the FAA for the interest expenses. As far as administrative expenses are concerned; following the order of the Tribunal for the earlier years; we direct the AO to restrict the same to 5% of dividend income. Grounds of appeal taken by the AO are allowed, in part.
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