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2017 (1) TMI 861 - AT - Income TaxDisallowance u/s 14A - Held that:- While adjudicating the appeal for the AY.2009-10,the Tribunal had restricted the disallowance to 1% of the dividend income.Following the same,we hold that disallowance should be restricted to 1% of the exempt income.First ground of appeal is decided in favour of the assessee,in part. Disallowance of expenditure on account of repairs and maintenance - Held that:- During the course of hearing before us,the AR admitted that the assessee had not supplied the required information to the AO/FAA about the repairing.In our opinion,it is the duty of the assessees to produce evidence in their support if they claim that any expenditure was incurred for carrying out business. In the case under consideration,the assessee has failed to prove the genuineness of the expenditure incurred by it during the year under consideration. Therefore,we are of the opinion that order of the FAA does not suffer from any legal infirmity.
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