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2015 (1) TMI 1103 - AT - Income TaxDisallowance u/s Sec. 14A - Held that:- Keeping in view the ratio laid down in the case of CIT Vs Holcim India (P.) Ltd. [2014 (9) TMI 434 - DELHI HIGH COURT] and in the case of CIT Vs M/s Lakhani Marketing (2014 (7) TMI 44 - PUNJAB AND HARYANA HIGH COURT) are of the considered view that no disallowance u/s 14A of the Act can be made if there is no income earned. In that view of the matter we delete the disallowance made by the AO and confirmed by the ld. CIT(A). - Decided in favour of assessee.
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