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2015 (2) TMI 6 - AT - Income TaxDisallowance made u/s 14A - CIT(A) deleted disallowance - Held that:- In the present cases as noted that assessee had made strategic investments in subsidiary companies and the purpose was to run hotels and the investments were not made for the purpose of earning dividend. Therefore, disallowance u/s 14A cannot be made. Further, we find that the subsidiary company in which the investment was made during the years were situated outside India, thus dividend if any received from them would not have been exempted. Therefore, keeping in view all facts and circumstances, the ground No.1 dismissed. - Decided in favour of assessee. Depreciation on world trade centre and world trade tower - CIT(A) deleted disallowance - Held that:- Similar issue has come up before the Tribunal in the assessee’s own case for the earlier Assessment Years 1995-96 to 2006-07 allowing the depreciation - Decided in favour of assessee.
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