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2012 (11) TMI 183 - HC - Income TaxDisallowance u/s 14A r.w.r. 8D - Demand raised - CIT(A) rejecting the Petitioner's application for stay of demand - Held that:- As the officers are bound to apply Rule 8D for the purposes of arriving at expenditure to be disallowed u/s 14A . Therefore, no fault could be found with the order passed by the Authorities. As very fairly stated that the department will not commence any recovery proceedings against the Petitioner in respect of the present demand till the disposal of its appeal by the ITAT it would be appropriate for the Petitioner to pursue its remedy of appeal before the ITAT.
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