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2016 (11) TMI 654 - AT - Income TaxDisallowance u/s 14A - investment made in foreign companies - Held that:- Since admittedly the assessee has made investments in a foreign company, the dividend income of which is taxable in India and the CIT(A) in the first para of its order has also upheld the same view holding that the investment made in company incorporated outside India, the dividend income of which is taxable in India should not be considered for calculation of disallowance under Rule 8D and the revenue is not in appeal against this part of the order and since the assessee has submitted full details of dividend income as well as the investment in foreign company, therefore, the order of the CIT(A) being self contradictory is set aside and the grounds raised by the assessee are allowed. - Decided in favour of assessee
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