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2016 (8) TMI 1234 - HC - Income TaxDisallowance u/s 14A - Held that:- It was firstly incumbent upon to in fact examine the accounts closely and determine if at all any expenditure could be ascribed to the tax exempt dividend/interest earned by the assessee. If indeed the tax exempted income was earned without the interference of any employee but rather through the solicitation and advertisement of the bank the question of attributing any expenditure cannot arise at all. In the circumstances, the impugned order is set aside. The matter is remitted to the AO for fresh determination in accordance with the judgment of this court in Taikisha Engineering Private Limited’s case (2014 (12) TMI 482 - DELHI HIGH COURT ).
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