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2014 (2) TMI 570 - AT - Income TaxAddition made u/s 14A of the Act r.w Rule 8D of the Act - Held that:- Assessee contended that the intent was not to earn any exempt income - Investment made in four joint venture companies were with the intention to expend the business of the assessee out of the commercial expediency and not with the intention of exempted income - The earning of exempted income by way of dividend income is only incidental of expanding its business - From making this investment, the assessee is able to enhance its sale substantially – thus, the CIT (A) was not justified in sustaining the addition which was over and above the computation made by the assessee for disallowance as per Rule 8D – Decided in favour fo Assessee.
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