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2015 (4) TMI 1176 - ITAT CHENNAIDisallowance u/s.14A r.w.r 8D - CIT-A deleted the addition - Held that:- DR has not brought on record any evidence to show that expenditure was incurred by the assessee for earning exempt income. Being so, the Commissioner of Income-tax(Appeals) is justified in deleting the addition made by the Assessing Officer by invoking provisions of sec.14A r.w.r. 8D for the assessment years 2008- 09 and 2009-10. Accordingly, this ground is dismissed. Deduction u/s.54F - Held that:- There is no discussion by AO about the issue of investment in capital gains accounts scheme amounting to ₹ 6,10,000/- and ₹ 40,00,000/- and advance paid for the purchase of property. It means that the Assessing Officer has not given any comments regarding this issue. Being so, in our opinion, it is appropriate to remit this issue back to the Assessing Officer, as there is violation of Rule 46A. Accordingly, we remit the issues for fresh consideration with regard to investment in capital gains accounts scheme and the advance paid for the purchase of property back to the Assessing Officer, as he has only considered the investment in flat Nos. 607 & 612, Altamount Road, Cumballa Hills, for which the assessee has already claimed deduction u/s.54F for assessment year 2008-09 and allowed by the Assessing Officer in the assessment year 2008- 09. Therefore, the same cannot be considered once again in the assessment year 2008-09. This issue to be decided afresh by the Assessing Officer.
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