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2018 (6) TMI 354 - AT - Income TaxDisallowance u/s 14A - Held that:- The disallowance under section 14A of the Act has been prescribed for segregating the expenses related to exempt income, which have been debited in computation of taxable income - the assessee has not claimed the said amount of interest of ₹ 5,88,75,200/- in the profit and loss account during the year under consideration, the question of disallowance cannot arise The amount of ₹ 7,64,000/- was invested in LIC mutual funds - once the said investment of ₹ 7,64,000/- is not part of the average value of investment, which could yield exempted income, the computation of net amount of investment of ₹ 1,50,01,500/- and subsequent working of 0.5% of said value by the Ld. CIT(A) has been made correctly and we do not find any error in the same - appeal of revenue is dismissed. Disallowance of advertisement expenses - Disallowance of commission and brokerage expenses - Choice of method of accounting - Held that:- In absence of information like advertisement expenses incurred may be related to brand development or may be related to specific projects, it is not possible for us to decide, what part of advertisement expenses were related specifically to the project and constitute cost of project. Similarly, no such information is available on record in respect of commission and brokerage expenses - thus the matter is restored to the file of the Ld. CIT(A) for deciding afresh.
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