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2016 (3) TMI 1329 - AT - Income TaxDisallowance u/s 14A - expenditure attributable for earning exempt income - Held that:- We hereby direct the learned Assessing Officer to delete the addition made by the AO which was further sustained by the learned Commissioner of Income Tax (Appeals) on account of section 14A read with Rule 8D, subject to verification that all the investments are made by the assessee in its subsidiary/sister concerns and to the extent of investments the assessee has own funds in the form of reserves & surplus. See THE ASSISTANT COMMISSIONER OF INCOME TAX VERSUS M/S. DATA SOFTWARE RESEACH COMPANY (INTERNATIONAL) PVT. LTD. AND VICE-VERSA [2016 (2) TMI 905 - ITAT CHENNAI] - decided in favour of assessee for statistical purposes.
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