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2019 (2) TMI 1066 - AT - Income TaxDisallowance u/s 14A - Held that:- The assessee did not claim any expenses to earn the exempt income and the income of the assessee is based upon the principle of mutuality. CIT(A) has wrongly confirmed the additions raised by the AO in view of the Section 14A read with Rule 8D of the Act, therefore, we delete the addition raised in view of the provision of section 14A read with Rule 8D of the Act and allowed the claim of the assessee. - Decided in favour of assessee.
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