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2019 (12) TMI 1302 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - CIT-A restricted the addition held that 0.5% of the investment treated as expenses incurred for earning exempt income - HELD THAT:- No infirmity in the order of the CIT(A). In the case of Vireet Investment Pvt. Ltd. and Anr. [2017 (6) TMI 1124 - ITAT DELHI] held that average value of investment which yielded exempt income during the year only shall be considered for the purpose of disallowance u/s 14A. Since the CIT(A) has given a categorical finding that the assessee has received dividend income of ₹ 6,48,431/- from the current investment of ₹ 11,02,496/-, therefore, 0.5% of the above investment has to be treated as expenses incurred for earning exempt income which comes to 5,512/- and which is in accordance with the decision of the Special Bench of the Tribunal cited (supra). Accordingly, we do not find any infirmity in the order of the CIT(A) and the same is upheld. Ground raised by the Revenue is accordingly dismissed.
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