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2011 (9) TMI 58 - HC - Income TaxDisallowance - Whether on the facts and in the circumstances of the case in view of the provisions of sections 115 O (5) and/or 14A of the Income Tax Act, 1961 and/or the Circular dated July 23, 2001, issued by the Central Board of Direct Taxes the appellant is entitled to deduction or interest amounting to Rs.19,14,940?” - Held that:- the approach of the Assessing officer to work out the pro-rata interest expenditure as relatable to earning of dividend was quite in conformity with the provisions of Section 14A of the Act.
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