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2018 (9) TMI 1756 - AT - Income TaxDisallowance as required u/s 14A r. w. Rule 8D - no dividend income earned by the assessee - Held that:- In this case, the Ld. AR brought to our notice that there was no dividend income earned by the assessee during the year under consideration, therefore, the question of disallowance does not arise. There is no dispute with regard to the fact that the assessee did not earn the dividend income. This Tribunal considered had an occasion to consider the identical issue with regard to the disallowance required to be made u/s 14A r. w. Rule 8D in the absence of dividend income in the cited case and held that no disallowance is required to be made u/s 14A in case of not earning the dividend income. This Tribunal has followed the decision of Hon’ble Madras High Court in the case of Redington India Private Limited Vs. ACIT [2017 (1) TMI 318 - MADRAS HIGH COURT]. - Decided in favour of assessee.
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