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2014 (3) TMI 360 - AT - Income TaxAddition on account of sum not disclosed as per the return - Disallowance u/s.14A of the Act r.w rule 8D of the Rules – Investment in shares - Held that:- The matter is principally factual - The disallowance is statutory, so that it would follow where the onus cast by law has not been discharged by the assessee, while no disallowance would arise where it has been - That is, the presumption in law as to incurring of expenditure under rule 8D(2)(iii)) would arise only where the onus had not been discharged by the assessee – Relying upon CIT vs. Citicorp Finance (India) Ltd. [2006 (11) TMI 362 - ITAT MUMBAI] – thus, the matter remitted back to the AO for fresh adjudication – Decided partly in favour of Assessee.
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