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2016 (2) TMI 1290 - AT - Income TaxDisallowance u/s.14A on account of expenses attributable to earning of the exempt income - AR submitted before us that the assessee’s own funds are sufficient to cover up the value of investments and hence no interest disallowance is required to be made u/s.14A - HELD THAT:- As relying on Reliance Utilities and Power Ltd. [2009 (1) TMI 4 - BOMBAY HIGH COURT] we delete disallowance made by the AO u/s.14A holding that the assessee’s own funds are sufficient to cover up the value of investments in question. Accordingly, Ground No.1 of the appeal is allowed.
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