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2015 (3) TMI 58 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - Held that:- As relying on assessee's own case [2015 (2) TMI 481 - ITAT DELHI] in the preceding assessment year 2008-09 the incurring of short term loss from mutual funds and earning from long term capital gains on shares proves that assessee was continuously engaged in investment activities both short term and long term which cannot be done without proper human resources and proper infrastructure. Therefore, we are of the considered opinion that the Assessing Officer had rightly disallowed 0.5% of expenditure as disallowance u/s 14A of the Act - Thus direct the AO to disallow 0.5% of the expenditure as disallowance u/s 14A of the Act.- Decided partly in favour of assessee
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