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2017 (1) TMI 808 - AT - Income TaxDisallowance u/s 14A - application of rule 8D - Held that:- It is observed that assessee had earned exempt income during the year under consideration and assessing officer has added 0.5% of such investment as expenses relating to administration as provided by rule 8D (2) (iii) of the rules 1962. Considering the assessment year involved, we agree with the plea advanced by the Ld. DR that the assessing officer was duty bound to calculate the disallowance by applying rule 8D. We do not agree with the arguments advanced by the assessee that no expenditure can be attributed to the earning of the tax free income. - Decided against assessee
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