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2018 (8) TMI 1151 - HC - Income TaxDisallowance u/s 14A - ITAT deleted the diallowance by holding that, in this case for both years, the assessee had offered amounts as disallowance claiming them to be expenditure for tax exempt income. The Assessing Officer merely proceeded to reject such amount as expenditure and straightaway applied Rule 8D without adducing any reasons. ITAT did not fall into error in holding as it did; no substantial question of law arises. - Decided against the revenue.
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