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2017 (4) TMI 1517 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - HELD THAT:- In the case of the assessee, the provisions of Section14A r.w.r. 8D will not be applicable in regard to investments made in group concern i.e. subsidiary, joint venture, associate concern etc. Accordingly, we remit the matter back to the file of the AO with a direction to re-compute the disallowance u/s 14A r.w.r. 8D after deleting investments made by the assessee in group concern i.e. subsidiary, joint venture, associate concern etc. The company has sufficient own funds therefore disallowance under second limb of Rule 8D (2) is also not warranted. TDS u/s 194J/194H - disallowance under section 40(a)(ia) in respect of commission on credit card companies paid to various banks for non-deduction of tax at source - HELD THAT:- Since facts of the case are exactly similar to the A.Y. 2010-11 for which we have already given our finding. Accordingly the disallowance made by the Assessing Officer cannot be sustained and the Order of the CIT (Appeals) deleting the aforesaid disallowance, is upheld. Accordingly these grounds stands dismissed. Interest paid on late payment of TDS, while computing book profit u/s. 115JB - HELD THAT:- Interest on TDS is not included in the explanation also. We have carefully considered the submissions and perused the records. We find considerable cogency in the submission of the assessee. Further, the interest amount on late payment does not include income tax payment or provision therefore. Therefore the same cannot be covered under the provisions of section 115JB. Hence, the AO is directed to delete the said addition. Accordingly we allow this ground of appeal.
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