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2017 (3) TMI 1319 - AT - Income TaxDisallowance made u/s 14A - whether the assessee has not earned any exempt income during the relevant Assessment Year? - Held that:- The investments were made purely on account of commercial necessity and as no exempt income was earned from the investment so made, the provisions of Section 14A will not applicable to the case of assessee. CIT(A) has not erred in deleting the disallowance made under Section 14A of I.T. Act holding that the assessee has not earned any exempt income during the relevant Assessment Year. - Decided in favour of assessee
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