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2020 (8) TMI 885 - MADRAS HIGH COURTDisallowance u/s.14A read with Rule 8D - disallowance made u/s.14A read with Rule 8D to be confined to 3rd limb of Rule 8D alone and deleting the disallowance pertaining to 2nd limb of Rule 8D - HELD THAT:- We find that there are two facets to the discussion made by the Tribunal as of which is that the assessee has not filed an appeal as against the confirmation of disallowance under Section 14(A) at R.39,70,832/-. This is a statement of fact. The second facet of the finding is with regard to the Revenue's contention that CIT(A) erred in restricting the disallowance to only ₹ 39,70,832/-. Tribunal considered the factual position and earlier order passed by the Tribunal in the assesse's own case and held that the Revenue has not been able to point out any error in restricting the disallowance under Section 14(A) to ₹ 39,70,832/- being 0.5% of the average value of the investment. Thus, we find that the Tribunal has given a finding as to why it does not find any ground to interfere with the order passed by the CIT(A). In our considered view, the entire issue involved is fully factual and reasonableness of the expenditure incurred has been computed by the CIT(A) and confirmed by the Tribunal after considering the merits of the matter.
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