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2010 (10) TMI 654 - AT - Income TaxDisallowance u/s 14A - In the case before us 97% of dividends have come from one single company and through ECS clearance. While the Assessing Officer had himself disallowed a proportionate disallowance of Rs.6,74,003/- as a reasonable allocation expenses to earn the interest free income, the CIT(A) has restricted also a reasonable disallowance of Rs.25,000/- as against Rs.6,74,003 - The disallowance of expenses on the basis of proportionate basis on income parameter certainly cannot be said to be reasonable on the facts of this case - Decided against the revenue
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