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2020 (1) TMI 1468 - AT - Income TaxDisallowance u/s 14A - HELD THAT:- As noticed that assessee has made investment in shares and received dividend amounting to ₹ 50,000/- which is exempt from tax and not includible in the total income of the assessee for the year under consideration. Against the said addition, assessee preferred first statutory appeal before the ld. CIT(A) who confirmed the action of the ld. A.O. Thereafter assessee preferred second statutory appeal before the Tribunal. As we can see, assessee total dividend income is ₹ 50,000/- so there cannot be disallowance of Rs. more than 50,000/- Respectfully following the above quoted judgment, we allow the appeal of the assessee.
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