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2019 (1) TMI 1639 - HC - Income TaxDisallowance u/s 14A - disallowance made with regard to expenditure for earning of income which was exempt - HELD THAT:- The issue pertains to disallowance to be made under Section 14A towards the expenditure incurred by the assessee to earn exempt income. The Tribunal, by the impugned judgment, while allowing the assessee's appeal came to the conclusion that the Assessing Officer had not recorded satisfaction with respect to the correctness of the claim of the assessee in respect of such expenditure. This is a requirement flowing from sub-section (2) of Section 14A of the Act. Only when sub-section (2) of Section 14A is made applicable, the question of having resorted to Rule 8D(2) of the Income Tax Rules would arise. In the result, we do not find any error in the view of the Tribunal.
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