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2021 (3) TMI 1435 - ITAT DELHIDisallowance u/s 14A r.w.r.8D - whether no exempt income is earned? - as per CIT(A) assessee has received dividend income from only one company - HELD THAT:- It is true that the assessee has earned dividend income which has been claimed as exempt. It is equally true that certain expenses need to be disallowed u/s 14A r.w.r. 8D of the Rules. There is no dispute that the assessee has received dividend income only from one company, namely, Times of Money Ltd - AO should have considered only those investments which yielded exempt income. We find that the directions of the ld. CIT(A) are in consonance with the provisions of the law. We, therefore, do not find any reason to interfere with the same. Disallowances of expenses - HELD THAT:- As CIT(A) noticed that similar issues were considered by the Tribunal in assessee’s own case in A.Ys 2006-07 to 2008-09 and following the findings of the Tribunal, the ld. CIT(A) deleted the same.DR could not bring any distinguishing decision in favour of the Revenue. We find that the Tribunal [2017 (7) TMI 172 - ITAT DELHI] for A.Ys 2006-607 to 2008-09 has deleted the disallowance. Depreciation on software licences @ 25% OR 60% - CIT(A) deleted the disallowance - HELD THAT:- CIT(A) found that similar issue was decided by his predecessor in A.Y 2009-10 [2022 (5) TMI 1591 - ITAT DELHI] in favour of the assessee - Since the deletion has been made following his predecessor, we do not find any error or infirmity in the findings of the ld. CIT(A). Revenue appeal dismissed.
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