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2012 (7) TMI 211 - AT - Income TaxApplicability of Rule 8D - dividend income - assessee claimed the same as a case of exempt income u/s 10(33) of the Income Tax Act, 1961 – Held that:- AO has not specifically dealt with the claim of the assessee to the effect that no expenditure had been incurred in the AY in hand particularly in view of the fact that the shares in question had been purchased long back - issue in hand has to be remitted back to the AO who shall re-decide the instant ground in view of the evidence if any lead by the assessee by following the principles of reasonable computation as it existed before the insertion of Rule 8D after affording the assessee opportunity of hearing. Interest free security deposit - assessee company had received non-interest bearing security deposit - Refundable at the time of termination of lease - assessee has included the amount as miscellaneous income. But immediately after realizing the mistake it also filed its revised computation – Held that:- Interest free security deposit to be paid back, the same can never termed as income - AO has also not examined this issue – matter remanded to AO
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