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2019 (6) TMI 1216 - AT - Income TaxDisallowance of expenses u/s14A read with rule 8D - recording of prima facie satisfaction of the AO - HELD THAT:- As relying on H.T. MEDIA LIMITED VERSUS PRINCIPAL COMMISSIONER OF INCOME TAX-IV, NEW DELHI [2017 (8) TMI 962 - DELHI HIGH COURT] AO has simply made observations that there must be some expenses for earning of the exempt income. AO could not pointed out which are expenses relatable to exempt income or there is prima facie satisfaction of the AO which is mandated by the provisions of section 14A(iii) of the Act. Hence, we are of the view that in the absence of any satisfaction, the AO has erred in making addition and CIT(A) erred by confirming the same. We set aside the orders of the lower authorities and allow this appeal of assessee.
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