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2016 (9) TMI 552 - HC - Income TaxAddition u/s 14A - Held that:- Rule 8D (iii) clearly postulates that in the calculation of the disallowance amount, “an amount equal to one - half percent of the value of the investment, income from which does not or shall not form part of the total income.” should be taken into consideration. Thus, it is not all investment but only that which is expressly spelt out in Rule 8D (iii) which is to be reckoned for the purpose of calculation of average of half percent. Having regard to these circumstances, we are of the opinion that no question of law arises.
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