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2018 (6) TMI 1814 - CALCUTTA HIGH COURTDisallowance u/s 14A r.w.r. 8D - stay petition - HELD THAT:- We find from the decision under appeal that the assessing officer had failed to establish that the borrowed funds were utilised for the purpose of acquiring shares and in view of availability of own funds with the assessee, the expenditure ought to have been disallowed. This is a finding of fact. We do not find any perversity in such finding. As such, we do not admit the appeal on this point. We do not find any utility in keeping the stay petition alive as there is no scope of passing any interim order. We accordingly dispose of the stay petition - we shall hear the appeal on the basis of the stay petition as we are apprised by the learned counsel for the parties that the stay petition contains all the relevant materials necessary for adjudicating the appeal. On consent of the learned counsel for the respondent, service of the notice of appeal is waived and filing of paper book is also dispensed with. The appeal shall be listed in the monthly list of July 2018.
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