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2016 (6) TMI 961 - HC - Income TaxDisallowance made u/s 14A - Tribunal directing the Assessing Officer to delete the suo moto disallowance of ₹ 6.23 crores made by the assessee company in the return of income - ITAT deleted the disallowance - Held that:- The question of disallowance under section 14A of the Act has been examined on the basis of materials on record. The Tribunal found that the assessee's interest free funds far exceeded its interest free investments. The Tribunal relied on the decisions of this court in case of this very assessee concerning similar issues in the later assessment years, against which we are informed that the Special Leave Petition has been dismissed. Regarding a claim contrary to the disclosures in the return, the Tribunal relied on the decision of Supreme Court in the case of the National Thermal Power (1996 (12) TMI 7 - SUPREME Court ) to observe that the purpose of assessment is to tax real income - Decided against revenue
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