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2018 (1) TMI 509 - AT - Income TaxDisallowance u/s 14A r.w.Rule 8D - CIT-A deleted the addition - sufficiency of own funds - Held that:- As perused the relevant material on record and find that this issue stands settled in favour of assessee by the Hon’ble judicial High Court in the case of Cheminvest Ltd vs. CIT reported in (2015 (9) TMI 238 - DELHI HIGH COURT) wherein it has been held that if there is no exempt income, there can be no question of making any disallowance under section 14 A. Also see CIT vs. Holcim India Pvt. [2014 (9) TMI 434 - DELHI HIGH COURT] - Decided in favor of assessee.
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