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2015 (6) TMI 647 - AT - Income TaxDisallowance of interest under Proviso to Sec.36(1)(iii) - CIT(A) deleted addition - Held that:- AO has not brought anything on record to indicate that capital was borrowed for capital work-in-progress. This finding on fact is not rebutted by the Revenue by placing any material on record. Therefore, we do not see any infirmity in the order of the ld.CIT(A), same is hereby upheld. - Decided against revenue. Disallowance of depreciation - CIT(A) deleted addition - Held that:- The Revenue has not brought any material on record as to how the facts in the present case are different from the facts in the earlier years. The Revenue has not placed any material on record suggesting that the order of the ld.CIT(A) in the earlier assessment year has been reversed by this Tribunal or by the Hon’ble Jurisdictional High Court. Under these facts, we do not see any reason to interfere with the order of the ld.CIT(A), same is hereby upheld.- Decided against revenue. Disallowances u/s.14A - investment in shares of companies other than 2 foreign subsidiary companies - Held that:- There is no dispute with regard to the fact that the provisions of Rule 8D would be applicable in the year under consideration. The ld.CIT(A) has decided this issue in accordance with Rule 8D of the IT Rules, 1962, therefore we do not see any reason to interfere with the order of the ld.CIT(A), same is hereby upheld. - Decided against assessee.
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