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2011 (6) TMI 903 - AT - Income TaxExtract: ....... borrowed funds for earning exempt income. Since, in this case, investments were made out of own funds, no disallowance can be made under section 14A of the Act. On this ground, the ground no.3 for both the assessment years is also rejected. 8. In the result, both the appeals of the Revenue are dismissed. Order pronounced in the Court on 10.06.2011
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