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2019 (8) TMI 152 - AT - Income TaxDisallowance u/s 14A r/w Rule 8D - no exempt income receipt - HELD THAT:- In the present case, it is undisputed that the assessee had not received any exempt income during the year under consideration and, therefore, the ratio of judgment of Cheminvest Ltd. vs C.I.T. [2015 (9) TMI 238 - DELHI HIGH COURT] would come to the aid of the assessee wherein the Hon’ble High Court had held that in the absence of any exempt income, disallowance u/s 14A of the Act of any amount was not permissible. - Decided against revenue
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