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2019 (4) TMI 1524 - ITAT BANGALOREDisallowance u/s 14A r.w.r. 8D - HELD THAT:- There is no merit in the submissions made by Ld A.R. We noticed that the CIT(A), in the first round, had made disallowance of ₹ 22.39 lakhs under Rule 8D(2)(iii) of I T Rules. The main contention of the assessee before the Tribunal, in the first round, was with regard to the interest disallowance made by CIT(A) under Rule 8D(2)(ii) on the plea that the investments have been made out of surplus funds. In any case, it was not shown before us as to why the disallowance out of administrative expenses should not be made under Rule 8D(2)(iii) of I T Rules. Accordingly we confirm the order passed by Ld CIT(A) on this issue. Non-granting of credit for Foreign Tax - HELD THAT:- CIT(A) has already restored this issue to the file of the AO with the direction to examine the claim of the assessee. Hence we do not find it necessary to give any other direction except stating that the AO shall allow the credit in accordance with the law.
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