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2014 (8) TMI 1106 - AT - Income TaxAddition on account of disallowance u/s 14A - Held that:- Investment made in a firm is to be treated as investment for earning exempt income. In case of mixed funds disallowance has to be made u/s 14A r.w.r. 8D. Further there is no force in the submissions that the Assessing Officer has not given any cogent reason for making disallowance in the sense that he has not pointed out which expenditure is relatable. First of all the assessee has not given any working wherein disallowance was made by the assessee himself while filing return. Secondly when the common expenditure and common interest is incurred then allocation has to be made on proportionate basis in terms of Sec 14A r.w.r. 8D for which discussion has been made in case of Chadha Super Cars (2012 (12) TMI 1036 - ITAT CHANDIGARH ) and relevant paras have already been extracted above. Therefore we find nothing wrong in the order of CIT(A) and Ld. CIT(A) has merely followed the order of the Tribunal and confirmed the disallowance. - Decided against assessee.
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