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2016 (2) TMI 1113 - AT - Income TaxDisallowance of expenses - Income has been assessed after taking profit of 0.15% of the deposits - Held that:- Consistent with the earlier decisions taken on similar issues same we hold that the disallowance of expenditure should be restricted to 50% and balance 50% of expenditure shall be allowed. Accordingly, we hold that a disallowance of expenditure should be restricted to 50% and balance 50% of expenditure shall be allowed. Accordingly, the ground raised by the assessee is partly allowed.
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