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2016 (4) TMI 1271 - AT - Income TaxDisallowance u/s 14A - Held that:- The Revenue has not disputed the fact that during the year under consideration, the assessee has no exempt income and, therefore, hold that no disallowance u/s 14A can be made where there is no exempt income. In view of the above, the assessee’s appeals for all the years are allowed and the Revenue’s appeal is dismissed. See Cheminvest Ltd. Vs. ITO [2009 (8) TMI 126 - ITAT DELHI-B].
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