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2013 (7) TMI 194 - AT - Income TaxPremium paid on redemption of premium notes disallowed - The Assessing Officer observed that since the income arising out of investment made in shares / bonds of Reliance Utilities and Power Ltd. is not taxable in view of exemption under section 10(23G) and also why such the premium paid should not be disallowed under section 14A. - Held that:- The premium paid by the assessee on redemption of premium notes is allowable and the same cannot be disallowed even under section 14A as relied on Delite Enterprises (P.) Ltd. [2008 (2) TMI 654 - ITAT MUMBAI] as confirmed by High Court [2009 (2) TMI 498 - BOMBAY HIGH COURT] - Decided in favor of assessee.
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