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2019 (4) TMI 688 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - disallowance cannot exceed the exempt income itself - HELD THAT:- The issue raised in the present appeal is squarely covered by the judgment of the Hon’ble High Court of Delhi in DCIT Vs. Joint Investment Pvt. Ltd. [2015 (3) TMI 155 - DELHI HIGH COURT] Applying the said ratio to the facts of the present case, we direct the Assessing Officer to restrict disallowance under section 14A of the Act to the extent of exempt income only - Decided partly in favour of assessee.
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