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2016 (6) TMI 336 - HC - Income TaxComputation of deduction u/s 14A - whether the ITAT was justified in relying on the judgment of this Court in Maxopp Investment Ltd. v. CIT (2011 (11) TMI 267 - Delhi High Court) to hold that AO is required to record reasons why he was not accepting the expenditure as calculated by the Assessee for the purposes of Section 14A? - Held that:- The Court does not propose to re-visit the decision of the co-ordinate Bench in Maxopp Investment Ltd. (supra). The ITAT cannot be faulted for following the said decision. Indeed, in the present case the AO has not recorded the reasons for concluding that the expenditure as claimed by the Assessee for the purposes of Section 14A of the Act is not acceptable. No substantial question of law arises for consideration.
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