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2017 (11) TMI 642 - HC - Income TaxDisallowance u/s. 14A - did the Tribunal commit an error in deleting the disallowance concluding that interest free funds, far in excess of the amounts invested for earning exempt income, were available with the assessee - Held that:- We see no reason to take a different view from Tribunal. Revenue tried strenuously to contend that the Tribunal's findings are perverse. Our attention was drawn to the order of the Assessing Officer and that of the Commissioner (Appeals). Neither of these orders, however, dislodge the Tribunal's finding of fact that at the command of the assessee interest free funds in excess of investment in tax exempt income were available. That being the position no question of law arises.
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