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2018 (6) TMI 692 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - non recording of satisfaction - dividend received though exempt has already suffered tax u/s 115-O - application of section 14A to income taxable u/s 115JB (MAT) - Held that:- AO had failed to comply with the statutory requirement of recording his satisfaction as to why the claim of disallowance offered by the assessee u/s 14A in its return of income for the year under consideration was not to be accepted, having regard to its accounts - order passed by the A.O in the case before us, is not in conformity with the judgment of the Hon’ble Apex Court in the case of Godrej & Boyce Manufacturing Co. Ltd. Vs. DCIT [2017 (5) TMI 403 - SUPREME COURT OF INDIA] - hence the disallowance made by the AO cannot be sustained and is liable to be vacated - Decided in favor of assessee.
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