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2014 (5) TMI 310 - AT - Income TaxRestriction of disallowance u/s 14A r.w. Rule 8D of the Rules – Earning of exempt income - Investment in shares and securities - Held that:- All the facts were duly taken into consideration by the CIT (A) while reducing the disallowance made by the AO - no disallowance could be made u/s 14A of the Act read with Rule 8D of the Rules - Disallowance of interest to the extent of Rs.22,92,332/- was rightly set aside – revenue has not been able to bring anything to show that the well-reasoned elaborate factual findings recorded by the CIT (A) contain any error whatsoever – thus, the order of the CIT(A) is upheld – Decided against Revenue.
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