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2017 (5) TMI 1810 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - no disallowance has been made by the assessee despite earning exempt income - HELD THAT:- Hon'ble Delhi High Court in case of Joint Investment Pvt. Ltd. [2015 (3) TMI 155 - DELHI HIGH COURT] has held that disallowance u/s 14A cannot swallow the entire amount as it has happened in this case as per assessment order. Therefore, we are of the opinion that as the exempt income itself is Rs. 1700/- only the disallowance cannot exceed that sum. Hence, no further disallowance can be made. Therefore, the appeal of the revenue is deserves to be dismissed.
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