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2014 (3) TMI 425 - ITAT KOLKATADisallowance of interest u/s. 14A of the Act – explanation and evidences not considered - Held that:- If expenditure is shown to be attributable of a particular source of income or receipt, the same cannot be taken into consideration for computing the disallowance u/s 14A of the Act. The word used in section 14A does not give any room for presumption - the disallowance u/s.14A r.w.r 8D if at all can be made only of being the expenditure directly relatable to the dividend income is allowable for disallowance - Decided partly in favour of assessee.
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