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2019 (3) TMI 1857 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - assessee submitted before us that the disallowance u/s. 14A cannot be made more than the tax free income - HELD THAT:- We have also perused the relevant materials available on record and the order passed by the Hon’ble ITAT Surat Bench [2014 (9) TMI 131 - ITAT AHMEDABAD] as relied upon by the Ld. Advocate appearing for the assessee. We have also carefully considered the order passed by the Ld. CIT(A). It appears that relying upon the ratio as laid down by different High Court followed by the Coordinate Bench in several matters including the order passed by the Surat Bench the Ld. CIT(A) has restricted the disallowance to the exempt dividend income of ₹ 19,311/- since disallowance exceeding such exempt income is not permissible in law which does not call for any interference. We, therefore, uphold the same. Hence, Revenue’s appeal is thus devoid of any merit and thus dismissed.
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