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2017 (8) TMI 1449 - HC - Income TaxDisallowance u/s 14A read with general principles of section 37(1) of the Income Tax Act, 1961 - expenditure expended wholly and exclusively for the purposes of business or profession - Held that:- the issue is squarely covered by the decision of Bombay High Court in Godrej & Boyce MFG. Co. Ltd. vs. Deputy Commissioner of Income Tax & anr. [2010 (8) TMI 77 - BOMBAY HIGH COURT] - the issues are answered in favour of the assessee and against the department.
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