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2017 (7) TMI 433 - AT - Income TaxDeduction u/s 80HHC - Held that:- We restore the matter to the file of the AO for computing deduction allowable to the assessee u/s 80HHC of the Act in accordance with law . The assessee is directed to appear before the AO and produce all relevant evidences and explanations in support of its contentions. The AO shall provide proper and reasonable opportunity of being heard to the assessee in accordance with law in accordance with principles of natural justice. Addition u/s 14A - Held that:- The disallowance u/s 14A should be restricted to a reasonable estimation having regards to the accounts of the assessee. The ld. CIT(A) has rightly set aside and restored the issue back to the file of the A.O. for working out reasonable disallowance u/s 14A of the Act. No infirmity in the order of the ld. CIT(A) and accordingly the said appellate order of CIT(A) is sustained and confirmed and the AO in remand proceedings shall work out reasonable disallowance of expenditure incurred in relation to earning of exempt income having regards to the accounts of the assessee in accordance with mandate of Section 14A(2) of the Act. The assessee is directed to appear before the AO and produce all relevant evidences and explanations in support of its contentions. The AO shall provide proper and reasonable opportunity of being heard to the assessee in accordance with law in accordance with principles of natural justice.
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