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2014 (7) TMI 718 - AT - Income TaxDisallowance us 14A r.w Rule 8D of the Act – Indirect and administrative expenses – Held that:- The AO has not considered the assessee’s case, recorded any dissatisfaction in terms of section 14A(2) – the decision in Godrej & Boyce Mfg. Co. Ltd. v. Dy. CIT [2010 (8) TMI 77 - BOMBAY HIGH COURT] - The initial onus in the matter though would only be on the assessee – thus, the matter is to be remitted back to the file of the AO – Decided in favour of Assessee. Partial disallowance of claim of expenses – Insurance and depreciation on telephone and motor car towards personal use – Held that:- The expenses obtained for that year brought to notice - to vary the percentage of the expenditure considered disallowable by the tribunal cannot be disregarded – thus, it is restricted to 5%, as by the tribunal for the immediately preceding year – Decided partly in favour of Assessee.
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